Meyer Handelman Co. Trims Stake in SLB Limited $SLB

Meyer Handelman Co. lessened its holdings in SLB Limited (NYSE:SLB) by 56.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,312 shares of the oil and gas company’s stock after selling 15,700 shares during the quarter. Meyer Handelman Co.’s holdings in SLB were worth $423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hedges Asset Management LLC increased its stake in SLB by 0.9% in the 3rd quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock worth $1,203,000 after acquiring an additional 300 shares during the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of SLB by 2.2% during the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock worth $486,000 after purchasing an additional 308 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of SLB by 6.3% in the first quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock worth $236,000 after purchasing an additional 335 shares during the last quarter. NewSquare Capital LLC increased its position in shares of SLB by 51.4% in the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 341 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in SLB by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Stock Performance

NYSE SLB opened at $37.78 on Friday. The company has a 50-day simple moving average of $36.89 and a two-hundred day simple moving average of $35.44. SLB Limited has a 12-month low of $31.11 and a 12-month high of $44.66. The firm has a market cap of $56.43 billion, a price-to-earnings ratio of 14.59 and a beta of 0.73. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40.

SLB (NYSE:SLB) last released its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter in the previous year, the business earned $0.89 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be given a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.0%. SLB’s payout ratio is presently 44.02%.

Analysts Set New Price Targets

A number of research firms have commented on SLB. Redburn Partners set a $48.00 price target on shares of SLB in a research note on Monday, November 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Citigroup increased their target price on SLB from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Barclays dropped their price target on SLB from $48.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Finally, JPMorgan Chase & Co. cut their price objective on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.42.

Insider Buying and Selling at SLB

In other news, CFO Stephane Biguet sold 38,447 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the completion of the sale, the chief financial officer owned 175,690 shares of the company’s stock, valued at approximately $6,456,607.50. This represents a 17.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter John Coleman sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the transaction, the director owned 18,671 shares in the company, valued at $668,795.22. This represents a 22.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 103,947 shares of company stock worth $3,871,337. 0.22% of the stock is currently owned by insiders.

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.