Employees Retirement System of Texas Lowers Stake in SLB Limited $SLB

Employees Retirement System of Texas lessened its position in shares of SLB Limited (NYSE:SLB) by 1.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,163,607 shares of the oil and gas company’s stock after selling 20,800 shares during the quarter. Employees Retirement System of Texas’ holdings in SLB were worth $44,659,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SLB. Ballentine Partners LLC grew its position in shares of SLB by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after buying an additional 218 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its position in shares of SLB by 3.0% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 8,281 shares of the oil and gas company’s stock worth $318,000 after buying an additional 238 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in shares of SLB by 10.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,641 shares of the oil and gas company’s stock worth $101,000 after buying an additional 240 shares during the last quarter. Independent Advisor Alliance grew its position in shares of SLB by 1.9% in the 4th quarter. Independent Advisor Alliance now owns 13,402 shares of the oil and gas company’s stock worth $514,000 after buying an additional 247 shares during the last quarter. Finally, CYBER HORNET ETFs LLC grew its position in shares of SLB by 6.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 4,115 shares of the oil and gas company’s stock worth $158,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the transaction, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.16% of the company’s stock.

SLB Stock Performance

SLB opened at $58.18 on Wednesday. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a market cap of $86.98 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 2.32 and a beta of 0.72. The firm’s 50-day moving average price is $52.92 and its 200-day moving average price is $46.80.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that SLB Limited will post 2.61 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.0%. SLB’s dividend payout ratio is 51.53%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SLB shares. Weiss Ratings downgraded shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Susquehanna lifted their price objective on shares of SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a research report on Monday, April 27th. Citigroup lifted their price objective on shares of SLB from $59.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, The Goldman Sachs Group lifted their price objective on shares of SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.74.

SLB Company Profile

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.