Rockland Trust Co. Lowers Position in SLB Limited $SLB

Rockland Trust Co. decreased its stake in shares of SLB Limited (NYSE:SLB) by 44.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,402 shares of the oil and gas company’s stock after selling 10,788 shares during the quarter. Rockland Trust Co.’s holdings in SLB were worth $623,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in SLB in the 4th quarter worth $809,557,000. Bank of New York Mellon Corp grew its position in shares of SLB by 56.8% during the first quarter. Bank of New York Mellon Corp now owns 24,615,243 shares of the oil and gas company’s stock valued at $1,264,977,000 after purchasing an additional 8,918,412 shares in the last quarter. Wellington Management Group LLP grew its position in shares of SLB by 50.6% during the fourth quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock valued at $638,473,000 after purchasing an additional 5,589,585 shares in the last quarter. State Street Corp increased its holdings in shares of SLB by 7.0% in the third 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 last quarter. Finally, Capital International Investors increased its holdings in shares of SLB by 86.9% in the fourth quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock worth $446,247,000 after purchasing an additional 5,404,948 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stifel Nicolaus increased their price target on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a research note on Monday, August 3rd. UBS Group decreased their price objective on SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. TD Cowen increased their target price on SLB from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of SLB in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.35.

SLB Stock Down 2.0%

Shares of NYSE:SLB opened at $50.52 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a 50-day moving average price of $49.84 and a 200 day moving average price of $50.91. The company has a market cap of $74.98 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 3.34 and a beta of 0.73.

SLB (NYSE:SLB) last issued its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that SLB Limited will post 2.5 earnings per share for the current year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be issued a $0.295 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. SLB’s payout ratio is 57.00%.

SLB 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.