Fisher Asset Management LLC Trims Stock Holdings in SLB Limited $SLB

Fisher Asset Management LLC trimmed its holdings in SLB Limited (NYSE:SLB) by 7.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,045,018 shares of the oil and gas company’s stock after selling 79,992 shares during the period. Fisher Asset Management LLC’s holdings in SLB were worth $40,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SLB. Vanguard Group Inc. raised its holdings in shares of SLB by 23.3% in the third quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock worth $6,371,335,000 after buying an additional 35,057,313 shares during the period. State Street Corp increased its holdings in SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after purchasing an additional 5,466,786 shares during the period. Greenhaven Associates Inc. purchased a new position in SLB during the 4th quarter worth $178,883,000. Caisse de depot et placement du Quebec increased its holdings in SLB by 10,422.1% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 3,165,581 shares of the oil and gas company’s stock worth $108,801,000 after purchasing an additional 3,135,496 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of SLB by 25.2% during the third quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock valued at $528,217,000 after buying an additional 3,094,764 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SLB. UBS Group upped their price objective on shares of SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings lowered shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group upped their price objective on shares of SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Piper Sandler upped their price objective on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and an average target price of $59.74.

Insider Buying and Selling at SLB

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

SLB Stock Up 1.6%

Shares of SLB stock opened at $58.18 on Wednesday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The stock’s fifty day moving average price is $52.92 and its 200 day moving average price is $46.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The company has a market cap of $86.98 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.32 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 the consensus estimate of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the business earned $0.72 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts expect that SLB Limited will post 2.61 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is 51.53%.

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.