SLB Limited $SLB Shares Bought by Sequent Asset Management LLC

Sequent Asset Management LLC lifted its holdings in SLB Limited (NYSE:SLB) by 104.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 253,729 shares of the oil and gas company’s stock after purchasing an additional 129,648 shares during the quarter. SLB comprises about 4.3% of Sequent Asset Management LLC’s holdings, making the stock its 6th biggest holding. Sequent Asset Management LLC’s holdings in SLB were worth $9,738,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SLB. Principal Financial Group Inc. lifted its position in shares of SLB by 9.6% during the third quarter. Principal Financial Group Inc. now owns 1,677,257 shares of the oil and gas company’s stock worth $57,647,000 after purchasing an additional 147,175 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of SLB by 7.9% in the third quarter. State of Michigan Retirement System now owns 461,838 shares of the oil and gas company’s stock valued at $15,873,000 after purchasing an additional 33,700 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in SLB by 4.3% in 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 last quarter. Alberta Investment Management Corp bought a new position in SLB in the 3rd quarter worth approximately $3,334,000. Finally, Oppenheimer & Co. Inc. lifted its holdings in SLB by 65.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock worth $7,898,000 after buying an additional 81,045 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the subject of several research reports. Sanford C. Bernstein lifted their target price on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. UBS Group raised their price target on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. BMO Capital Markets lifted their price objective on SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Stifel Nicolaus boosted their price objective on SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.74.

Insider Activity

In related 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 value of $2,998,832.22. Following the completion of the transaction, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the 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 of the company’s stock, valued at approximately $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. 0.16% of the stock is owned by corporate insiders.

SLB Trading Up 3.3%

SLB opened at $56.57 on Wednesday. The firm’s fifty day moving average is $53.66 and its two-hundred day moving average is $47.32. The firm has a market cap of $84.58 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.22 and a beta of 0.70. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion during 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 firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. Equities research analysts anticipate that SLB Limited will post 2.62 EPS for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis 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%.

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.