SLB Limited $SLB Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its position in SLB Limited (NYSE:SLB) by 5.6% during the fourth quarter, Holdings Channel reports. The fund owned 471,585 shares of the oil and gas company’s stock after selling 28,084 shares during the quarter. Fifth Third Bancorp’s holdings in SLB were worth $18,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Root Financial Partners LLC bought a new position in SLB in the 3rd quarter valued at about $29,000. Strengthening Families & Communities LLC bought a new position in SLB in the 3rd quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in SLB in the 4th quarter valued at about $31,000. Steph & Co. grew its position in SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 394 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in SLB in the 4th quarter valued at about $34,000. Institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

NYSE:SLB opened at $57.00 on Friday. SLB Limited has a twelve month low of $31.64 and a twelve month high of $57.20. 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 company has a 50-day moving average of $50.67 and a 200-day moving average of $44.29. The firm has a market cap of $85.22 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 4.02 and a beta of 0.72.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share 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 company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. During the same quarter last year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts forecast that SLB Limited will post 2.6 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be given 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 2.1%. SLB’s dividend payout ratio (DPR) is 51.53%.

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLB. Freedom Capital lowered shares of SLB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Bank of America increased their target price on shares of SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Evercore reiterated an “outperform” rating and issued a $64.00 target price on shares of SLB in a research report on Monday. Weiss Ratings upgraded shares of SLB from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. Finally, BMO Capital Markets increased their target price on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.95.

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.