SLB Limited $SLB Stock Sold by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its position in shares of SLB Limited (NYSE:SLB) by 46.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,854 shares of the oil and gas company’s stock after selling 30,754 shares during the quarter. Park Avenue Securities LLC’s holdings in SLB were worth $1,698,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of SLB by 0.8% in the 2nd quarter. State Street Corp now owns 91,222,641 shares of the oil and gas company’s stock worth $4,267,269,000 after purchasing an additional 722,060 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of SLB by 1.9% in the second quarter. First Eagle Investment Management LLC now owns 28,913,733 shares of the oil and gas company’s stock worth $1,344,199,000 after purchasing an additional 537,566 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in SLB during the 2nd quarter worth $1,339,567,000. Amundi boosted its holdings in SLB by 15.8% during the second quarter. Amundi now owns 19,815,245 shares of the oil and gas company’s stock worth $921,211,000 after purchasing an additional 2,698,766 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of SLB by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 15,901,998 shares of the oil and gas company’s stock valued at $817,246,000 after acquiring an additional 169,468 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SLB news, CAO Howard Guild sold 10,047 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $53.65, for a total transaction of $539,021.55. Following the completion of the transaction, the chief accounting officer owned 12,845 shares of the company’s stock, valued at $689,134.25. This represents a 43.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Dianne Ralston sold 20,986 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $53.57, for a total value of $1,124,220.02. Following the completion of the sale, the insider owned 205,053 shares of the company’s stock, valued at approximately $10,984,689.21. This trade represents a 9.28% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

SLB has been the topic of a number of research reports. TD Cowen reaffirmed a “buy” rating on shares of SLB in a report on Monday, October 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 target price (up from $65.00) on shares of SLB in a research note on Sunday, July 26th. Wolfe Research began coverage on shares of SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 target price for the company. Sanford C. Bernstein reissued an “outperform” rating on shares of SLB in a research note on Tuesday, September 1st. Finally, Capital One Financial reduced their price objective on SLB from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 18th. Twenty-four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.52.

SLB Trading Up 0.1%

Shares of SLB opened at $53.78 on Monday. The stock has a market capitalization of $79.38 billion, a P/E ratio of 26.11, a PEG ratio of 2.98 and a beta of 0.83. SLB Limited has a twelve month low of $34.65 and a twelve month high of $60.46. The company has a quick ratio of 1.02, a current ratio of 1.39 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $52.50 and a two-hundred day simple moving average of $51.37.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, October 23rd. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.27 billion. SLB had a net margin of 8.40% and a return on equity of 13.77%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 earnings per share. On average, research analysts anticipate that SLB Limited will post 2.46 EPS for the current year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 2nd will be issued a dividend of $0.2950 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, December 2nd. SLB’s payout ratio is currently 57.28%.

About SLB

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.