Capital World Investors Sells 2,113,511 Shares of SLB Limited $SLB

Capital World Investors lowered its stake in SLB Limited (NYSE:SLB) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,374,144 shares of the oil and gas company’s stock after selling 2,113,511 shares during the period. Capital World Investors’ holdings in SLB were worth $897,115,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Strategic Wealth Advisors LLC bought a new position in SLB in the 4th quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB in the 4th quarter valued at $31,000. Steph & Co. raised its position in shares of SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 394 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in shares of SLB during the fourth quarter valued at $31,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of SLB by 37.0% during the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 227 shares during the period. Institutional investors own 81.99% of the company’s stock.

SLB Trading Down 0.2%

NYSE SLB opened at $54.79 on Monday. The stock has a 50-day simple moving average of $54.22 and a 200 day simple moving average of $47.89. The company has a market capitalization of $81.91 billion, a PE ratio of 23.92, a P/E/G ratio of 2.22 and a beta of 0.70. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82.

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, topping analysts’ consensus estimates of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same period last year, the company earned $0.72 earnings per share. SLB’s quarterly revenue was up 2.7% on a year-over-year basis. Research analysts forecast that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is currently 51.53%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SLB. Evercore reiterated an “outperform” rating and issued a $64.00 price objective on shares of SLB in a research report on Monday, April 27th. JPMorgan Chase & Co. upped their target price on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of SLB in a research note on Sunday, April 26th. Weiss Ratings cut shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, Sanford C. Bernstein boosted their price target on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by company insiders.

About SLB

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.