SLB Limited $SLB Shares Sold by Clark & Stuart Inc

Clark & Stuart Inc reduced its position in shares of SLB Limited (NYSE:SLB) by 48.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,919 shares of the oil and gas company’s stock after selling 32,926 shares during the period. SLB comprises approximately 1.0% of Clark & Stuart Inc’s holdings, making the stock its 25th largest holding. Clark & Stuart Inc’s holdings in SLB were worth $1,633,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of SLB by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock worth $7,156,177,000 after purchasing an additional 1,080,999 shares during the period. State Street Corp grew its position in shares of SLB by 1.0% during the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock valued at $3,263,998,000 after buying an additional 799,218 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in SLB by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock worth $2,072,844,000 after acquiring an additional 1,458,650 shares during the period. Morgan Stanley lifted its holdings in SLB by 1.3% in the fourth quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock worth $1,423,716,000 after acquiring an additional 482,533 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in SLB by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock worth $1,292,993,000 after acquiring an additional 510,747 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research reports. Barclays increased their price target on SLB from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. BMO Capital Markets increased their target price on SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Raymond James Financial cut their target price on SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. Susquehanna upped their price target on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research report on Monday, July 27th. Finally, Zacks Research cut shares of SLB from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.35.

SLB Price Performance

Shares of NYSE SLB opened at $52.66 on Thursday. The stock has a market cap of $78.15 billion, a P/E ratio of 25.44, a P/E/G ratio of 3.54 and a beta of 0.73. The firm’s 50-day simple moving average is $49.67 and its 200 day simple moving average is $51.04. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB) last announced its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The firm had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the prior year, the firm posted $0.74 EPS. SLB’s revenue was up 5.0% compared to the same quarter last year. Equities analysts expect that SLB Limited will post 2.5 EPS for the current year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is currently 57.00%.

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.