Sage Mountain Advisors LLC Cuts Holdings in SLB Limited $SLB

Sage Mountain Advisors LLC trimmed its holdings in shares of SLB Limited (NYSE:SLB) by 24.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,628 shares of the oil and gas company’s stock after selling 2,845 shares during the period. Sage Mountain Advisors LLC’s holdings in SLB were worth $292,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. First Command Advisory Services Inc. grew its holdings 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 during the period. Atlas Capital Advisors Inc. acquired a new stake in shares of SLB in the 1st quarter worth approximately $33,000. Atticus Wealth Management LLC acquired a new stake in shares of SLB in the 2nd quarter worth approximately $29,000. Park Square Financial Group LLC acquired a new stake in shares of SLB in the 1st quarter worth approximately $38,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of SLB in the 1st quarter worth approximately $40,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Price Performance

SLB stock opened at $35.84 on Monday. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.97. The stock’s fifty day simple moving average is $34.66 and its 200-day simple moving average is $34.54. 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 stock has a market capitalization of $53.55 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 9.92 and a beta of 0.97.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The business had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter last year, the firm earned $0.89 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. Equities research analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is 44.02%.

Analysts Set New Price Targets

SLB has been the topic of a number of research reports. Barclays upped their price target on SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. UBS Group reiterated a “buy” rating and set a $44.00 target price on shares of SLB in a report on Tuesday, October 21st. Atb Cap Markets upgraded SLB from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a report on Friday. Finally, Stifel Nicolaus lowered their target price on SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.69.

Insider Buying and Selling at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The stock was 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 of the company’s stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

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.