TD Asset Management Inc Trims Holdings in SLB Limited $SLB

TD Asset Management Inc decreased its holdings in SLB Limited (NYSE:SLB) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 546,152 shares of the oil and gas company’s stock after selling 68,109 shares during the quarter. TD Asset Management Inc’s holdings in SLB were worth $20,961,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of SLB by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock worth $7,156,177,000 after buying an additional 1,080,999 shares during the last quarter. State Street Corp grew its holdings in shares of SLB by 7.0% during the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after buying an additional 5,466,786 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of SLB by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock worth $1,292,993,000 after buying an additional 510,747 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of SLB by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 27,718,458 shares of the oil and gas company’s stock worth $1,063,834,000 after buying an additional 174,564 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of SLB during the fourth quarter worth about $809,557,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity at SLB

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

SLB Stock Down 0.2%

SLB opened at $54.79 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The business has a 50 day simple moving average of $54.22 and a 200-day simple moving average of $47.89. The stock has a market capitalization of $81.91 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.22 and a beta of 0.70. 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 results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.72 EPS. On average, equities analysts anticipate that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Dividend Announcement

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 issued a $0.295 dividend. 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%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group raised their price target on SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Citigroup raised their price target on SLB from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. TD Cowen raised their price target on SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 27th. JPMorgan Chase & Co. raised their price target on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 price target on shares of SLB in a report on Monday, April 27th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.67.

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.