Lyell Wealth Management LP Sells 47,452 Shares of SLB Limited $SLB

Lyell Wealth Management LP lowered its stake in shares of SLB Limited (NYSE:SLB) by 38.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,366 shares of the oil and gas company’s stock after selling 47,452 shares during the quarter. Lyell Wealth Management LP’s holdings in SLB were worth $2,581,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. First Command Advisory Services Inc. grew its stake in shares of SLB by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 477 shares in the last quarter. Atticus Wealth Management LLC purchased a new position in SLB during the second quarter worth about $29,000. Atlas Capital Advisors Inc. purchased a new position in SLB during the first quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. grew its position in SLB by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new stake in SLB in the 1st quarter valued at about $34,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SLB shares. Jefferies Financial Group cut their target price on SLB from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Zacks Research upgraded SLB from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Melius began coverage on SLB in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price on the stock. Stifel Nicolaus cut their price target on shares of SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.00.

SLB Price Performance

SLB opened at $32.58 on Monday. The firm has a 50-day moving average price of $34.49 and a 200-day moving average price of $34.50. SLB Limited has a twelve month low of $31.11 and a twelve month high of $44.97. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $48.66 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 9.13 and a beta of 0.97.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. SLB’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.89 EPS. Equities analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.5%. SLB’s payout ratio is 44.02%.

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.