Commerzbank Aktiengesellschaft FI Sells 63,004 Shares of SLB Limited $SLB

Commerzbank Aktiengesellschaft FI lessened its stake in shares of SLB Limited (NYSE:SLB) by 35.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 117,043 shares of the oil and gas company’s stock after selling 63,004 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in SLB were worth $6,015,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Meeder Advisory Services Inc. boosted its position in SLB by 4.3% during the 1st quarter. Meeder Advisory Services Inc. now owns 45,558 shares of the oil and gas company’s stock valued at $2,341,000 after buying an additional 1,882 shares during the period. WCM Investment Management LLC increased its position in shares of SLB by 777.8% in the first quarter. WCM Investment Management LLC now owns 942,864 shares of the oil and gas company’s stock valued at $48,586,000 after acquiring an additional 835,454 shares during the period. Hamel Associates Inc. bought a new position in shares of SLB during the first quarter valued at about $316,000. Dimensional Fund Advisors LP raised its stake in shares of SLB by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 15,901,998 shares of the oil and gas company’s stock valued at $817,246,000 after acquiring an additional 169,468 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of SLB by 14.4% during the first quarter. Parallel Advisors LLC now owns 23,489 shares of the oil and gas company’s stock worth $1,207,000 after purchasing an additional 2,955 shares during the period. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SLB. Raymond James Financial cut their target price on SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price objective on shares of SLB in a research report on Sunday, April 26th. Weiss Ratings cut SLB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Evercore reaffirmed an “outperform” rating and issued a $64.00 price target on shares of SLB in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $60.30.

SLB Stock Performance

Shares of SLB stock opened at $46.41 on Tuesday. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The firm has a market capitalization of $69.38 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.89 and a beta of 0.72. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $51.72 and a two-hundred day simple moving average of $50.37.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. SLB’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. On average, equities analysts forecast that SLB Limited will post 2.53 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd were paid a $0.295 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. SLB’s dividend payout ratio is presently 51.53%.

Insider Buying and Selling

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction 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. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction 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 in the company, valued at approximately $921,056.49. This represents a 10.55% 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.