Stanley Laman Group Ltd. Sells 1,051 Shares of SLB Limited $SLB

Stanley Laman Group Ltd. reduced its stake in shares of SLB Limited (NYSE:SLB) by 1.2% in the 2nd quarter, Holdings Channel reports. The firm owned 83,169 shares of the oil and gas company’s stock after selling 1,051 shares during the quarter. Stanley Laman Group Ltd.’s holdings in SLB were worth $2,811,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SLB. Charles Schwab Investment Management Inc. lifted its position in SLB by 478.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after acquiring an additional 39,474,501 shares in the last quarter. Boston Partners increased its holdings in shares of SLB by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after purchasing an additional 4,300,222 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in SLB by 211.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock valued at $250,507,000 after acquiring an additional 4,066,500 shares during the last quarter. Nuveen LLC bought a new position in SLB in the first quarter valued at $169,232,000. Finally, Banque Transatlantique SA boosted its position in SLB by 21,737.8% during the first quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock valued at $71,821,000 after buying an additional 1,850,760 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Down 1.0%

Shares of NYSE SLB opened at $32.58 on Friday. The firm’s 50-day moving average price is $34.49 and its 200-day moving average price is $34.58. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $48.66 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 9.20 and a beta of 0.97. SLB Limited has a 12-month low of $31.11 and a 12-month high of $44.97.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. SLB had a net margin of 11.53% and a return on equity of 20.99%. The company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same period in the prior year, the company posted $0.89 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities research analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio is currently 39.04%.

Insider Buying and Selling

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SLB shares. JPMorgan Chase & Co. lowered their target price on shares of SLB from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, June 30th. Melius initiated coverage on shares of SLB in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective for the company. Atb Cap Markets upgraded shares of SLB from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Wells Fargo & Company cut shares of SLB from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Barclays lowered their target price on shares of SLB from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

About SLB

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.