Bryn Mawr Trust Advisors LLC trimmed its position in SLB Limited (NYSE:SLB – Free Report) by 38.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,374 shares of the oil and gas company’s stock after selling 9,130 shares during the quarter. Bryn Mawr Trust Advisors LLC’s holdings in SLB were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Americana Partners LLC raised its stake in SLB by 10.1% during the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock valued at $8,526,000 after purchasing an additional 22,706 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in SLB by 13.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock valued at $7,220,000 after purchasing an additional 25,417 shares during the last quarter. Nordea Investment Management AB raised its stake in SLB by 4.9% during the 3rd quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock valued at $72,354,000 after purchasing an additional 100,918 shares during the last quarter. Principal Financial Group Inc. raised its stake in SLB by 9.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,677,257 shares of the oil and gas company’s stock valued at $57,647,000 after purchasing an additional 147,175 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its stake in SLB by 512.6% during the 3rd quarter. Evergreen Capital Management LLC now owns 610,611 shares of the oil and gas company’s stock valued at $21,157,000 after purchasing an additional 510,929 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently commented on SLB shares. Jefferies Financial Group reiterated a “buy” rating and set a $65.00 target price on shares of SLB in a research note on Sunday, April 26th. Citigroup raised their price objective on SLB from $59.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Freedom Capital downgraded SLB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Loop Capital set a $48.00 price objective on SLB in a research report on Tuesday, January 27th. Finally, Stifel Nicolaus raised their price objective on SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.74.
SLB Trading Up 3.3%
Shares of SLB stock opened at $55.00 on Tuesday. SLB Limited has a 52-week low of $31.64 and a 52-week high of $57.20. The stock has a market cap of $82.23 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 3.75 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The firm has a fifty day moving average of $50.98 and a 200-day moving average of $45.21.
SLB (NYSE:SLB – Get Free Report) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $8.76 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that SLB Limited will post 2.61 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 paid a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. SLB’s dividend payout ratio is currently 51.53%.
Insiders Place Their Bets
In other news, EVP Steve Matthew Gassen sold 53,379 shares of the 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 completion of the transaction, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the sale, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.16% of the company’s stock.
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.
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