Wedbush Securities Inc. Has $796,000 Holdings in SLB Limited $SLB

Wedbush Securities Inc. trimmed its holdings in shares of SLB Limited (NYSE:SLB) by 28.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,543 shares of the oil and gas company’s stock after selling 9,228 shares during the period. Wedbush Securities Inc.’s holdings in SLB were worth $796,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of SLB by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after purchasing an additional 39,474,501 shares during the last quarter. Boston Partners lifted its position in SLB by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after buying an additional 4,300,222 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position 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 buying an additional 4,066,500 shares in the last quarter. Nuveen LLC bought a new stake in SLB during the 1st quarter worth about $169,232,000. Finally, Banque Transatlantique SA increased its position in SLB by 21,737.8% in the 1st quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock valued at $71,821,000 after acquiring an additional 1,850,760 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Trading Up 0.7%

NYSE SLB opened at $36.93 on Tuesday. SLB Limited has a 12 month low of $31.11 and a 12 month high of $44.97. The stock has a 50-day simple moving average of $34.95 and a 200 day simple moving average of $34.70. 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 company has a market capitalization of $55.17 billion, a PE ratio of 14.26, a P/E/G ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last posted its 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 company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 EPS. Research analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio is presently 44.02%.

Insiders Place Their Bets

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SLB shares. Barclays upped their target price on shares of SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Rothschild Redb raised SLB to a “strong-buy” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Zacks Research upgraded SLB from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Redburn Partners set a $48.00 price target on SLB in a research note on Monday, November 3rd. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.28.

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.