Horizon Investments LLC Decreases Stock Position in SLB Limited $SLB

Horizon Investments LLC cut its stake in SLB Limited (NYSE:SLB) by 30.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 48,618 shares of the oil and gas company’s stock after selling 21,314 shares during the quarter. Horizon Investments LLC’s holdings in SLB were worth $1,866,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Root Financial Partners LLC purchased a new position in shares of SLB in the third quarter valued at $29,000. Strengthening Families & Communities LLC purchased a new position in shares of SLB in the third quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of SLB in the fourth quarter valued at $31,000. Steph & Co. grew its position in SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after buying an additional 394 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in SLB during the fourth quarter worth about $34,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents 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 this link. Insiders own 0.16% of the company’s stock.

SLB Price Performance

SLB opened at $56.01 on Wednesday. The stock has a 50-day moving average price of $50.77 and a 200-day moving average price of $44.62. SLB Limited has a 12-month low of $31.64 and a 12-month high of $57.20. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $83.74 billion, a P/E ratio of 24.46, a PEG ratio of 3.93 and a beta of 0.72.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the prior year, the business earned $0.72 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts predict that SLB Limited will post 2.6 earnings per share for the current fiscal year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is presently 51.53%.

Wall Street Analyst Weigh In

SLB has been the subject of several recent analyst reports. Loop Capital set a $48.00 target price on SLB in a research report on Tuesday, January 27th. Freedom Capital cut SLB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Barclays boosted their target price on SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Jefferies Financial Group restated a “buy” rating and set a $65.00 target price on shares of SLB in a research report on Sunday, April 26th. Finally, Wall Street Zen cut SLB from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.95.

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.