Resona Asset Management Co. Ltd. Sells 26,563 Shares of SLB Limited $SLB

Resona Asset Management Co. Ltd. lessened its stake in shares of SLB Limited (NYSE:SLB) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 467,302 shares of the oil and gas company’s stock after selling 26,563 shares during the period. Resona Asset Management Co. Ltd.’s holdings in SLB were worth $17,894,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Ballentine Partners LLC lifted its position in shares of SLB by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after acquiring an additional 218 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its position in shares of SLB by 3.0% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 8,281 shares of the oil and gas company’s stock valued at $318,000 after acquiring an additional 238 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of SLB by 1.9% in the fourth quarter. Independent Advisor Alliance now owns 13,402 shares of the oil and gas company’s stock valued at $514,000 after acquiring an additional 247 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of SLB by 1.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,574 shares of the oil and gas company’s stock valued at $636,000 after acquiring an additional 254 shares in the last quarter. Finally, apricus wealth LLC lifted its position in shares of SLB by 0.3% in the fourth quarter. apricus wealth LLC now owns 84,740 shares of the oil and gas company’s stock valued at $3,252,000 after acquiring an additional 270 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Price Performance

NYSE:SLB opened at $56.80 on Wednesday. The business’s 50-day moving average is $51.83 and its 200 day moving average is $46.06. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. SLB Limited has a 12 month low of $31.64 and a 12 month high of $57.67. The company has a market capitalization of $84.92 billion, a P/E ratio of 24.80, a P/E/G ratio of 4.02 and a beta of 0.72.

SLB (NYSE:SLB) last issued its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that SLB Limited will post 2.61 earnings per share for the current fiscal year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s payout ratio is presently 51.53%.

Insider Activity at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the business’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 transaction of $2,998,832.22. Following the sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director directly owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% 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.

Analyst Ratings Changes

SLB has been the topic of several research analyst reports. Weiss Ratings downgraded SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. BMO Capital Markets boosted their price objective on SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. TD Cowen boosted their price objective on SLB from $55.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Sanford C. Bernstein boosted their price objective on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Loop Capital set a $48.00 target price on SLB in a research report on Tuesday, January 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.74.

About SLB

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.