Orange Investment Advisors Inc. Lowers Holdings in SLB Limited $SLB

Orange Investment Advisors Inc. trimmed its position in SLB Limited (NYSE:SLB) by 24.6% in the 1st quarter, Holdings Channel reports. The firm owned 66,313 shares of the oil and gas company’s stock after selling 21,680 shares during the quarter. Orange Investment Advisors Inc.’s holdings in SLB were worth $3,408,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SLB. MV Capital Management Inc. purchased a new stake in shares of SLB in the fourth quarter worth $28,000. Strategic Wealth Advisors LLC bought a new stake in SLB during the fourth quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in SLB during the fourth quarter worth about $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, Lloyd Advisory Services LLC. bought a new position in SLB in the 4th quarter worth about $31,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLB has been the topic of several recent analyst reports. Sanford C. Bernstein raised their price target on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a report on Monday, May 11th. 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. Citigroup raised their target price on shares of SLB from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Barclays lifted their target price on shares of SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of SLB in a research note on Tuesday, June 16th. Three 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 given 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 $60.83.

Insider Activity at SLB

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

SLB Trading Down 0.1%

Shares of SLB stock opened at $46.95 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $54.22 and a two-hundred day moving average price of $49.45. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The firm has a market cap of $70.19 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 1.89 and a beta of 0.70.

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. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. Equities analysts anticipate that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.5%. SLB’s dividend payout ratio is currently 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.