Strs Ohio Sells 19,811 Shares of SLB Limited $SLB

Strs Ohio cut its stake in SLB Limited (NYSE:SLB) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 512,985 shares of the oil and gas company’s stock after selling 19,811 shares during the period. Strs Ohio’s holdings in SLB were worth $26,362,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SLB. MV Capital Management Inc. bought a new position in shares of SLB in the fourth quarter worth $28,000. Strategic Wealth Advisors LLC acquired a new position in SLB in the fourth quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in SLB during the fourth quarter worth about $31,000. Steph & Co. lifted its position in SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 394 shares during the period. Finally, Lloyd Advisory Services LLC. acquired a new stake in SLB during the fourth quarter worth about $31,000. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction 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. This represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by corporate insiders.

SLB Stock Performance

SLB stock opened at $45.09 on Friday. SLB Limited has a 12-month low of $31.64 and a 12-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 business’s 50-day moving average price is $53.51 and its two-hundred day moving average price is $49.60. The stock has a market cap of $67.42 billion, a PE ratio of 19.69, a P/E/G ratio of 1.82 and a beta of 0.72.

SLB (NYSE:SLB) last posted its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping 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 firm 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 business earned $0.72 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts expect that SLB Limited will post 2.6 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is currently 51.53%.

Wall Street Analyst Weigh In

SLB has been the topic of several recent analyst reports. Weiss Ratings lowered shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of SLB in a report on Tuesday, June 16th. Stifel Nicolaus increased their price target on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Sanford C. Bernstein lifted their price objective on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Citigroup lowered their price objective on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday. Two equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, SLB presently has an average rating of “Moderate Buy” and an average price target of $60.17.

SLB 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.