Stock Yards Bank & Trust Co. Has $13.47 Million Position in SLB Limited $SLB

Stock Yards Bank & Trust Co. reduced its position in SLB Limited (NYSE:SLB) by 4.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 391,809 shares of the oil and gas company’s stock after selling 18,282 shares during the period. Stock Yards Bank & Trust Co.’s holdings in SLB were worth $13,467,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of SLB by 14.2% during the 2nd quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company’s stock valued at $5,080,734,000 after purchasing an additional 18,672,021 shares in the last quarter. Norges Bank acquired a new position in SLB during the second quarter worth $618,697,000. Franklin Resources Inc. raised its holdings in SLB by 30.4% during the second quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock valued at $683,901,000 after buying an additional 4,719,852 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of SLB by 80.7% in the second quarter. Lazard Asset Management LLC now owns 6,788,978 shares of the oil and gas company’s stock worth $229,466,000 after buying an additional 3,031,906 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of SLB by 346.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,876,526 shares of the oil and gas company’s stock worth $133,236,000 after acquiring an additional 3,007,911 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $51.00 target price on shares of SLB in a report on Thursday, January 15th. Susquehanna boosted their price objective on shares of SLB from $42.00 to $52.00 and gave the stock a “positive” rating in a research note on Wednesday, January 7th. Evercore ISI set a $54.00 target price on shares of SLB and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Citigroup boosted their target price on shares of SLB from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, TD Cowen raised their price target on SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.17.

SLB Price Performance

Shares of SLB stock opened at $46.47 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The company has a market cap of $69.42 billion, a PE ratio of 17.94 and a beta of 0.72. The firm has a fifty day moving average price of $39.40 and a two-hundred day moving average price of $36.43. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $47.72.

Insider Buying and Selling

In related news, Director Peter John Coleman sold 5,500 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total transaction of $197,010.00. Following the transaction, the director directly owned 18,671 shares in the company, valued at $668,795.22. The trade was a 22.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total value of $2,261,400.00. Following the completion of the transaction, the executive vice president directly owned 159,371 shares of the company’s stock, valued at approximately $6,006,692.99. This trade represents a 27.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 103,947 shares of company stock valued at $3,871,337 over the last three months. 0.22% of the stock is owned by corporate insiders.

SLB Company 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.