Smithbridge Asset Management Inc. DE Has $2.51 Million Position in SLB Limited $SLB

Smithbridge Asset Management Inc. DE boosted its holdings in shares of SLB Limited (NYSE:SLB) by 114.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 65,340 shares of the oil and gas company’s stock after acquiring an additional 34,858 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in SLB were worth $2,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in SLB by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock valued at $126,303,000 after purchasing an additional 128,660 shares during the period. Alberta Investment Management Corp acquired a new position in SLB during the 3rd quarter valued at about $3,334,000. Cibc World Market Inc. lifted its position in SLB by 48.7% during the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock valued at $52,468,000 after purchasing an additional 447,667 shares during the period. Oppenheimer & Co. Inc. lifted its position in SLB by 65.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock valued at $7,898,000 after purchasing an additional 81,045 shares during the period. Finally, Principal Financial Group Inc. lifted its position in SLB by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 1,719,469 shares of the oil and gas company’s stock valued at $65,993,000 after purchasing an additional 42,212 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by insiders.

SLB Price Performance

Shares of NYSE SLB opened at $55.56 on Thursday. The business’s 50 day moving average price is $54.43 and its two-hundred day moving average price is $48.32. The company has a market cap of $83.06 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 2.26 and a beta of 0.70. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, analysts predict that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders 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 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SLB shares. Evercore reissued an “outperform” rating and issued a $64.00 price target on shares of SLB in a research note on Monday, April 27th. The Goldman Sachs Group increased their target price on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. UBS Group increased their target price on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Barclays increased their target price on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Susquehanna increased their price target on shares of SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research report on Monday, April 27th. Three 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 issued a Sell rating to the company. According to MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

SLB 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.