SLB Limited $SLB Stock: Park Avenue Securities LLC Reduces Stake

Park Avenue Securities LLC reduced its holdings in shares of SLB Limited (NYSE:SLB) by 46.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,854 shares of the oil and gas company’s stock after selling 30,754 shares during the quarter. Park Avenue Securities LLC’s holdings in SLB were worth $1,698,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SLB. Flagship Harbor Advisors LLC boosted its position in SLB by 2.5% in the third quarter. Flagship Harbor Advisors LLC now owns 21,701 shares of the oil and gas company’s stock valued at $1,057,000 after buying an additional 523 shares in the last quarter. apricus wealth LLC lifted its stake in shares of SLB by 2.1% in the 3rd quarter. apricus wealth LLC now owns 88,600 shares of the oil and gas company’s stock valued at $4,317,000 after acquiring an additional 1,860 shares during the last quarter. Blume Capital Management Inc. boosted its holdings in shares of SLB by 1.7% during the 3rd quarter. Blume Capital Management Inc. now owns 79,401 shares of the oil and gas company’s stock valued at $3,868,000 after acquiring an additional 1,321 shares in the last quarter. Lakewood Asset Management LLC boosted its holdings in shares of SLB by 7.9% during the 3rd quarter. Lakewood Asset Management LLC now owns 49,071 shares of the oil and gas company’s stock valued at $2,391,000 after acquiring an additional 3,590 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas bought a new stake in SLB during the 3rd quarter worth $432,000. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Up 0.1%

Shares of NYSE SLB opened at $53.78 on Monday. The company’s 50 day moving average price is $52.50 and its 200-day moving average price 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 P/E ratio of 26.11, a price-to-earnings-growth ratio of 2.98 and a beta of 0.83.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.27 billion. SLB had a net margin of 8.40% and a return on equity of 13.77%. SLB’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 earnings per share. Equities analysts forecast that SLB Limited will post 2.46 earnings per share for the current year.

SLB Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SLB shares. Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Citigroup reduced their price target on SLB from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, October 19th. Susquehanna boosted their price target on SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a report on Monday, July 27th. The Goldman Sachs Group lowered their price objective on SLB from $63.00 to $62.00 in a research note on Tuesday, July 7th. Finally, Morgan Stanley raised their price objective on shares of SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Twenty-four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.52.

Insider Activity at SLB

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

About SLB

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.