18,297 SLB Limited $SLB Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp decreased its holdings in shares of SLB Limited (NYSE:SLB) by 6.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 258,179 shares of the oil and gas company’s stock after selling 18,297 shares during the quarter. Heritage Investors Management Corp’s holdings in SLB were worth $12,579,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SLB. Bank of New York Mellon Corp acquired a new position in shares of SLB during the 2nd quarter worth about $1,339,567,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in SLB by 6,358.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,134,731 shares of the oil and gas company’s stock valued at $471,164,000 after buying an additional 9,977,804 shares during the last quarter. Cardano Risk Management B.V. bought a new position in SLB in the 2nd quarter valued at about $185,474,000. Canoe Financial LP raised its holdings in SLB by 82.3% in the 2nd quarter. Canoe Financial LP now owns 7,730,966 shares of the oil and gas company’s stock valued at $358,936,000 after acquiring an additional 3,489,344 shares during the period. Finally, Danske Bank A S lifted its position in SLB by 2,928.3% during the second quarter. Danske Bank A S now owns 2,825,743 shares of the oil and gas company’s stock worth $131,369,000 after acquiring an additional 2,732,433 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Susquehanna upped their target price on SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research report on Monday, July 27th. Capital One Financial cut their target price on shares of SLB from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 18th. Citigroup lowered their price target on shares of SLB from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, October 19th. Sanford C. Bernstein reiterated an “outperform” rating on shares of SLB in a research note on Tuesday, September 1st. Finally, Rothschild & Co Redburn increased their price target on SLB from $66.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, September 25th. Twenty-four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.52.

Insider Buying and Selling

In other SLB news, insider Dianne B. Ralston sold 20,986 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 205,053 shares of the company’s stock, valued at $10,984,689.21. This trade represents a 9.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Howard Guild sold 10,047 shares of SLB stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $53.65, for a total value of $539,021.55. Following the sale, the chief accounting officer owned 12,845 shares of the company’s stock, valued at approximately $689,134.25. This trade represents a 43.89% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by company insiders.

SLB Trading Up 0.1%

NYSE:SLB opened at $53.78 on Monday. The firm’s fifty day moving average is $52.50 and its 200-day moving average is $51.37. SLB Limited has a 52 week low of $34.65 and a 52 week high of $60.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.39. The firm has a market cap of $79.38 billion, a P/E ratio of 26.11, a P/E/G ratio of 2.98 and a beta of 0.83.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, October 23rd. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. SLB had a net margin of 8.40% and a return on equity of 13.77%. The business had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the previous year, the business posted $0.69 EPS. SLB’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts expect that SLB Limited will post 2.46 earnings per share for the current year.

SLB Dividend Announcement

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

SLB Company Profile

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.