Strs Ohio Sells 19,811 Shares of SLB Limited $SLB

Strs Ohio trimmed its position in shares of SLB Limited (NYSE:SLB) by 3.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 512,985 shares of the oil and gas company’s stock after selling 19,811 shares during the period. Strs Ohio’s holdings in SLB were worth $26,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. MV Capital Management Inc. acquired a new position in shares of SLB during the 4th quarter worth about $28,000. Strategic Wealth Advisors LLC acquired a new stake in SLB in the 4th quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in SLB in the 4th quarter valued at about $31,000. Steph & Co. grew its holdings in SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 394 shares during the period. Finally, Lloyd Advisory Services LLC. bought a new position in SLB during the fourth quarter worth about $31,000. 81.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the sale, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on SLB shares. JPMorgan Chase & Co. upped their price objective on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Susquehanna boosted their target price on SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a report on Monday, April 27th. Evercore restated an “outperform” rating and issued a $64.00 price target on shares of SLB in a research note on Monday, April 27th. Barclays raised their price target on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, UBS Group reduced their price objective on shares of SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given 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 a consensus price target of $60.17.

SLB Trading Down 0.1%

Shares of NYSE:SLB opened at $45.09 on Friday. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The business has a 50 day moving average of $53.51 and a 200-day moving average of $49.60. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock has a market cap of $67.42 billion, a PE ratio of 19.69, a P/E/G ratio of 1.82 and a beta of 0.72.

SLB (NYSE:SLB) last announced its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. As a group, equities research analysts forecast that SLB Limited will post 2.6 earnings per share for the current year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.6%. SLB’s dividend payout ratio (DPR) 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.