25,071 SLB Limited $SLB Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in SLB Limited (NYSE:SLB) by 0.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,801,542 shares of the oil and gas company’s stock after selling 25,071 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of SLB worth $185,211,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. State Street Corp increased its stake in SLB by 0.8% in the second quarter. State Street Corp now owns 91,222,641 shares of the oil and gas company’s stock valued at $4,267,269,000 after purchasing an additional 722,060 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in SLB by 1.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 28,913,733 shares of the oil and gas company’s stock valued at $1,344,199,000 after buying an additional 537,566 shares during the period. Bank of New York Mellon Corp purchased a new stake in SLB in the 2nd quarter valued at about $1,339,567,000. Amundi increased its stake in shares of SLB by 15.8% during the 2nd quarter. Amundi now owns 19,815,245 shares of the oil and gas company’s stock valued at $921,211,000 after acquiring an additional 2,698,766 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of SLB by 1.1% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity at SLB

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on SLB. JPMorgan Chase & Co. increased their price objective on shares of SLB from $61.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a research report on Friday. Citigroup cut their price target on shares of SLB from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Barclays decreased their price target on shares of SLB from $66.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Finally, Susquehanna boosted their price objective on shares of SLB from $55.00 to $62.00 and gave the company a “positive” rating in a research note on Monday, July 27th. Twenty-four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and an average target price of $61.52.

SLB Stock Up 0.1%

Shares of SLB stock opened at $53.78 on Monday. SLB Limited has a twelve month low of $34.65 and a twelve month high of $60.46. The stock has a market cap of $79.38 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 2.98 and a beta of 0.83. The company has a current ratio of 1.39, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average price of $52.50 and a 200 day moving average price 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, topping analysts’ consensus estimates of $0.62 by $0.02. SLB had a return on equity of 13.77% and a net margin of 8.40%. The company had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts forecast that SLB Limited will post 2.46 earnings per share for the current fiscal year.

SLB Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, December 2nd. SLB’s dividend payout ratio (DPR) is presently 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.