Fiduciary Management Inc. WI Trims Holdings in SLB Limited $SLB

Fiduciary Management Inc. WI trimmed its position in SLB Limited (NYSE:SLB) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,227,636 shares of the oil and gas company’s stock after selling 541,581 shares during the quarter. SLB comprises 1.8% of Fiduciary Management Inc. WI’s holdings, making the stock its 23rd largest position. Fiduciary Management Inc. WI’s holdings in SLB were worth $162,257,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Havemeyer Place LP acquired a new position in SLB in the fourth quarter valued at approximately $3,701,000. Lowe Brockenbrough & Co. Inc. lifted its holdings in SLB by 4.4% in the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 126,382 shares of the oil and gas company’s stock valued at $4,851,000 after acquiring an additional 5,280 shares during the period. MCF Advisors LLC lifted its holdings in SLB by 245.1% in the fourth quarter. MCF Advisors LLC now owns 1,187 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 843 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in SLB by 184.2% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 163,251 shares of the oil and gas company’s stock valued at $6,266,000 after acquiring an additional 105,817 shares during the period. Finally, Argonautica Private Wealth Management Inc. acquired a new position in SLB in the fourth quarter valued at approximately $812,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Piper Sandler boosted their price objective on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. UBS Group boosted their price objective on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wall Street Zen cut SLB from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $65.00 price objective on shares of SLB in a research report on Sunday, April 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

SLB Trading Down 5.6%

Shares of SLB stock opened at $54.79 on Friday. The stock’s fifty day moving average is $54.22 and its two-hundred day moving average is $47.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The firm has a market capitalization of $81.91 billion, a P/E ratio of 23.92, a PEG ratio of 2.22 and a beta of 0.70. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating 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 revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. Research analysts expect that SLB Limited will post 2.62 earnings per share for the current fiscal 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 issued a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB’s dividend payout ratio (DPR) is presently 51.53%.

Insiders Place Their Bets

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction on 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 transaction, the executive vice president 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director directly owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company’s stock.

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.