Praxis Investment Management Inc. Sells 28,564 Shares of SLB Limited $SLB

Praxis Investment Management Inc. lowered its position in SLB Limited (NYSE:SLB) by 34.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,892 shares of the oil and gas company’s stock after selling 28,564 shares during the period. Praxis Investment Management Inc.’s holdings in SLB were worth $1,887,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in SLB by 14.2% in the second quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company’s stock valued at $5,080,734,000 after acquiring an additional 18,672,021 shares during the period. Norges Bank bought a new position in shares of SLB during the 2nd quarter valued at about $618,697,000. Franklin Resources Inc. grew its position in shares of SLB by 30.4% in the 2nd quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock valued at $683,901,000 after purchasing an additional 4,719,852 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in SLB by 211.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock worth $250,507,000 after purchasing an additional 4,066,500 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in SLB by 80.7% during the 2nd quarter. Lazard Asset Management LLC now owns 6,788,978 shares of the oil and gas company’s stock worth $229,466,000 after buying an additional 3,031,906 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity at SLB

In related news, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the sale, the executive vice president owned 159,371 shares of the company’s stock, valued at approximately $6,006,692.99. The trade was a 27.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter John Coleman sold 5,500 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the transaction, the director directly owned 18,671 shares in the company, valued at approximately $668,795.22. This represents a 22.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 103,947 shares of company stock worth $3,871,337. Company insiders own 0.22% of the company’s stock.

SLB Trading Down 2.2%

NYSE SLB opened at $39.44 on Monday. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.66. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average of $35.87 and a 200-day moving average of $35.14. The company has a market cap of $58.92 billion, a PE ratio of 15.23 and a beta of 0.73.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share. On average, equities research analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.9%. SLB’s payout ratio is presently 44.02%.

Wall Street Analyst Weigh In

SLB has been the subject of several research analyst reports. UBS Group upped their price target on shares of SLB from $44.00 to $50.00 and gave the company a “buy” rating in a report on Friday. Sanford C. Bernstein increased their price objective on SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a report on Thursday. Redburn Partners set a $48.00 target price on SLB in a research report on Monday, November 3rd. TD Cowen upped their price target on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Rothschild & Co Redburn started coverage on shares of SLB in a research note on Monday, November 3rd. They set a “buy” rating and a $48.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.32.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.