Commerzbank Aktiengesellschaft FI Sells 63,004 Shares of SLB Limited $SLB

Commerzbank Aktiengesellschaft FI trimmed its position in shares of SLB Limited (NYSE:SLB) by 35.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,043 shares of the oil and gas company’s stock after selling 63,004 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in SLB were worth $6,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Evergreen Advisors LLC bought a new position in SLB in the 1st quarter valued at $26,000. MV Capital Management Inc. purchased a new position in shares of SLB in the fourth quarter worth about $28,000. Strategic Wealth Advisors LLC bought a new stake in SLB during the 4th quarter valued at $30,000. Costello Asset Management INC raised its stake in shares of SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 280 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SLB during the fourth quarter valued at about $31,000. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction 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 owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the 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 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 disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SLB shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of SLB in a report on Sunday, April 26th. Susquehanna reduced their target price on SLB from $65.00 to $55.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $61.00 target price on shares of SLB in a research note on Tuesday, June 16th. UBS Group lowered their price target on SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Finally, Wolfe Research initiated coverage on SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, SLB has a consensus rating of “Moderate Buy” and an average target price of $60.30.

SLB Stock Down 1.2%

Shares of NYSE:SLB opened at $46.41 on Tuesday. The firm has a fifty day moving average of $51.72 and a 200 day moving average of $50.37. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. 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 $69.38 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.89 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. 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. As a group, research analysts anticipate that SLB Limited will post 2.53 EPS for the current fiscal year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd were paid a $0.295 dividend. The ex-dividend date of this dividend was 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%.

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.