Heritage Investors Management Corp Sells 18,297 Shares of SLB Limited $SLB

Heritage Investors Management Corp lessened its position in SLB Limited (NYSE:SLB) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 258,179 shares of the oil and gas company’s stock after selling 18,297 shares during the quarter. Heritage Investors Management Corp’s holdings in SLB were worth $12,579,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLB. Abel Hall LLC lifted its position in shares of SLB by 2.7% during the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after purchasing an additional 198 shares during the last quarter. E Fund Management Co. Ltd. grew its holdings in SLB by 3.6% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock valued at $266,000 after buying an additional 199 shares during the last quarter. TOWER TRUST & INVESTMENT Co grew its holdings in SLB by 1.2% in the 3rd quarter. TOWER TRUST & INVESTMENT Co now owns 18,696 shares of the oil and gas company’s stock valued at $911,000 after buying an additional 230 shares during the last quarter. Cypress Capital Group increased its position in SLB by 1.9% in the 1st quarter. Cypress Capital Group now owns 12,308 shares of the oil and gas company’s stock worth $633,000 after buying an additional 234 shares during the period. Finally, Palisade Capital Management LP increased its position in SLB by 4.1% in the 2nd quarter. Palisade Capital Management LP now owns 5,939 shares of the oil and gas company’s stock worth $276,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Up 0.1%

Shares of NYSE:SLB opened at $53.78 on Monday. The company’s fifty day moving average is $52.50 and its 200-day moving average is $51.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.39. SLB Limited has a 52 week low of $34.65 and a 52 week high of $60.46. The company has a market capitalization of $79.38 billion, a PE ratio of 26.11, a P/E/G ratio of 2.98 and a beta of 0.83.

SLB (NYSE:SLB) last released its quarterly earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.27 billion. SLB had a return on equity of 13.77% and a net margin of 8.40%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.69 EPS. Equities research analysts predict that SLB Limited will post 2.46 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 2nd will be issued a dividend of $0.2950 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB’s dividend payout ratio is currently 57.28%.

Analyst Ratings Changes

Several research firms have recently weighed in on SLB. Weiss Ratings reissued a “hold (c)” rating on shares of SLB in a research report on Friday. JPMorgan Chase & Co. upped their target price on shares of SLB from $61.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Citigroup reduced their price target on shares of SLB from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, October 19th. The Goldman Sachs Group reduced their target price on shares of SLB from $63.00 to $62.00 in a research note on Tuesday, July 7th. Finally, TD Cowen reissued a “buy” rating on shares of SLB in a research report on Monday, October 26th. Twenty-four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.52.

Insider Transactions at SLB

In other SLB news, insider Dianne Ralston sold 20,986 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $53.57, for a total value of $1,124,220.02. Following the completion of the sale, the insider owned 205,053 shares in the company, valued at approximately $10,984,689.21. This trade represents a 9.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Howard Guild sold 10,047 shares of the firm’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $53.65, for a total transaction of $539,021.55. Following the completion of the sale, the chief accounting officer owned 12,845 shares of the company’s stock, valued at $689,134.25. The trade was a 43.89% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by corporate insiders.

SLB Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.