Sanctuary Advisors LLC Cuts Stock Holdings in SLB Limited $SLB

Sanctuary Advisors LLC decreased its holdings in SLB Limited (NYSE:SLB) by 18.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 389,003 shares of the oil and gas company’s stock after selling 89,180 shares during the period. Sanctuary Advisors LLC’s holdings in SLB were worth $18,085,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Abel Hall LLC grew its holdings in shares of SLB by 2.7% in the first quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after acquiring an additional 198 shares during the period. E Fund Management Co. Ltd. increased its stake in shares of SLB by 3.6% in the second quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock worth $266,000 after purchasing an additional 199 shares in the last quarter. Private Wealth Asset Management LLC raised its stake in SLB by 4.1% during the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after purchasing an additional 200 shares during the period. Capital Advisors Ltd. LLC lifted its stake in SLB by 9.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 214 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in SLB by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after purchasing an additional 218 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Trading Up 0.1%

NYSE SLB opened at $53.90 on Monday. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. The company has a market capitalization of $80.00 billion, a PE ratio of 26.04, a P/E/G ratio of 3.55 and a beta of 0.73. The company has a fifty day moving average of $49.30 and a 200 day moving average of $51.26.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The business had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same quarter last year, the business posted $0.74 EPS. The company’s revenue was up 5.0% on a year-over-year basis. Research analysts forecast that SLB Limited will post 2.5 earnings per share for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Wednesday, September 2nd will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is currently 57.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SLB shares. Evercore reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of SLB in a research report on Monday, July 27th. Citigroup reduced their price target on SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Raymond James Financial lowered their target price on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Barclays upped their target price on SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, Sanford C. Bernstein lifted their price target on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.

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.