Meeder Asset Management Inc. Trims Stock Position in SLB Limited $SLB

Meeder Asset Management Inc. lessened its stake in SLB Limited (NYSE:SLB) by 27.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,658 shares of the oil and gas company’s stock after selling 30,626 shares during the period. Meeder Asset Management Inc.’s holdings in SLB were worth $4,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Fearnley Asset Management AS acquired a new position in shares of SLB in the 4th quarter valued at $8,574,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in SLB by 4.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock worth $126,303,000 after purchasing an additional 128,660 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in SLB during the 1st quarter worth $47,528,000. Cibc World Market Inc. grew its position in SLB by 48.7% during the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock worth $52,468,000 after purchasing an additional 447,667 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in SLB by 65.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock valued at $7,898,000 after purchasing an additional 81,045 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SLB. Morgan Stanley reaffirmed an “overweight” rating and issued a $54.00 target price on shares of SLB in a report on Wednesday. Weiss Ratings cut SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Raymond James Financial reduced their price objective on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of SLB in a research report on Tuesday, June 16th. Finally, Evercore reiterated an “outperform” rating and issued a $64.00 target price on shares of SLB in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.30.

Insider Buying and Selling

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred 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 completion of the sale, the director owned 16,953 shares in the company, valued at approximately $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. Corporate insiders own 0.16% of the company’s stock.

SLB Stock Up 0.0%

Shares of NYSE:SLB opened at $47.01 on Monday. The company has a market cap of $70.29 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.89 and a beta of 0.72. The firm’s 50-day simple moving average is $51.90 and its 200-day simple moving average is $50.31. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. As a group, equities research analysts predict that SLB Limited will post 2.53 earnings per share for the current year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.295 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.5%. SLB’s payout ratio is presently 51.53%.

SLB Company 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.