Orange Investment Advisors Inc. Sells 21,680 Shares of SLB Limited $SLB

Orange Investment Advisors Inc. lowered its holdings in SLB Limited (NYSE:SLB) by 24.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,313 shares of the oil and gas company’s stock after selling 21,680 shares during the period. Orange Investment Advisors Inc.’s holdings in SLB were worth $3,408,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Private Wealth Asset Management LLC raised its stake in shares of SLB by 4.1% during the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after purchasing an additional 200 shares during the period. Capital Advisors Ltd. LLC grew its position in SLB by 9.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock valued at $129,000 after buying an additional 214 shares during the period. Ballentine Partners LLC increased its holdings in SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after buying an additional 218 shares during the last quarter. Davis Capital Management increased its holdings in SLB by 1.0% during the first quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock worth $1,129,000 after buying an additional 220 shares during the last quarter. Finally, Bruce G. Allen Investments LLC raised its position in SLB by 37.0% in the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 227 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction on Friday, May 1st. The stock was 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 directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director owned 16,953 shares in the company, valued at approximately $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

SLB has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Evercore reaffirmed an “outperform” rating and issued a $64.00 price target on shares of SLB in a report on Monday, April 27th. BMO Capital Markets upped their price objective on SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Barclays upped their price objective on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. raised their target price on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, SLB has a consensus rating of “Moderate Buy” and a consensus price target of $60.83.

SLB Price Performance

SLB opened at $46.95 on Monday. The firm has a 50-day moving average price of $54.22 and a 200-day moving average price of $49.45. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $70.19 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.89 and a beta of 0.70.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 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 for the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the prior year, the company posted $0.72 EPS. SLB’s revenue was up 2.7% compared to the same quarter last year. Equities analysts expect that SLB Limited will post 2.62 EPS for the current year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is presently 51.53%.

About SLB

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.