Shell Asset Management Co. Has $889,000 Stake in SLB Limited $SLB

Shell Asset Management Co. reduced its stake in SLB Limited (NYSE:SLB) by 58.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,861 shares of the oil and gas company’s stock after selling 36,876 shares during the quarter. Shell Asset Management Co.’s holdings in SLB were worth $889,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SLB. Uhlmann Price Securities LLC lifted its holdings in shares of SLB by 4.5% in the third quarter. Uhlmann Price Securities LLC now owns 13,473 shares of the oil and gas company’s stock valued at $463,000 after purchasing an additional 579 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of SLB by 4.2% during the third quarter. HighTower Advisors LLC now owns 1,029,786 shares of the oil and gas company’s stock worth $35,394,000 after buying an additional 41,534 shares in the last quarter. Cidel Asset Management Inc. raised its position in SLB by 27.1% in the 3rd quarter. Cidel Asset Management Inc. now owns 12,571 shares of the oil and gas company’s stock valued at $432,000 after buying an additional 2,683 shares during the last quarter. Metis Global Partners LLC lifted its stake in SLB by 10.0% in the 3rd quarter. Metis Global Partners LLC now owns 109,403 shares of the oil and gas company’s stock valued at $3,760,000 after acquiring an additional 9,910 shares in the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in SLB during the 3rd quarter worth approximately $329,000. Institutional investors own 81.99% of the company’s stock.

SLB Stock Down 0.5%

SLB stock opened at $50.37 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. The company’s 50-day moving average is $44.46 and its 200-day moving average is $38.38. The firm has a market capitalization of $75.33 billion, a PE ratio of 21.25, a P/E/G ratio of 3.43 and a beta of 0.72. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $52.40.

SLB (NYSE:SLB) last issued its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. SLB’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. Sell-side analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. The ex-dividend date is Wednesday, February 11th. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is presently 49.79%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Freedom Capital lowered shares of SLB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Argus raised shares of SLB to a “strong-buy” rating in a research report on Monday, January 26th. Evercore set a $54.00 price objective on SLB and gave the company an “outperform” rating in a report on Tuesday, January 6th. Finally, UBS Group reaffirmed a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Three 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 issued a Sell rating to the company. According to data from MarketBeat.com, SLB presently has an average rating of “Moderate Buy” and a consensus target price of $52.38.

Insider Buying and Selling at SLB

In related news, CAO Howard Guild sold 13,268 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $659,419.60. Following the sale, the chief accounting officer owned 22,407 shares in the company, valued at approximately $1,113,627.90. This represents a 37.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the transaction, the executive vice president directly owned 140,602 shares of the company’s stock, valued at approximately $6,987,919.40. This trade represents a 29.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 162,402 shares of company stock worth $7,993,676 in the last three months. 0.22% of the stock is owned by insiders.

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.