Stock Yards Bank & Trust Co. Sells 40,191 Shares of SLB Limited $SLB

Stock Yards Bank & Trust Co. reduced its position in shares of SLB Limited (NYSE:SLB) by 10.3% in the fourth quarter, HoldingsChannel reports. The firm owned 351,618 shares of the oil and gas company’s stock after selling 40,191 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in SLB were worth $13,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in SLB. Brighton Jones LLC grew its stake in shares of SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares during the period. Bison Wealth LLC bought a new stake in shares of SLB during the 4th quarter valued at about $238,000. CW Advisors LLC grew its stake in shares of SLB by 44.3% during the 2nd quarter. CW Advisors LLC now owns 48,482 shares of the oil and gas company’s stock valued at $1,639,000 after purchasing an additional 14,892 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of SLB by 65.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,651 shares of the oil and gas company’s stock valued at $292,000 after purchasing an additional 3,426 shares during the period. Finally, Baird Financial Group Inc. grew its stake in shares of SLB by 2.9% during the 2nd quarter. Baird Financial Group Inc. now owns 345,764 shares of the oil and gas company’s stock valued at $11,687,000 after purchasing an additional 9,733 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SLB shares. Bank of America boosted their price target on SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Argus upgraded SLB to a “strong-buy” rating in a research note on Monday, January 26th. The Goldman Sachs Group boosted their price objective on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Royal Bank Of Canada boosted their price objective on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. boosted their price objective on SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, SLB presently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Insiders Place Their Bets

In other SLB news, Director La Chevardiere Patrick De sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $50.29, for a total value of $201,160.00. Following the completion of the transaction, the director directly owned 19,525 shares in the company, valued at $981,912.25. This represents a 17.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Stephane Biguet sold 61,017 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $3,032,544.90. Following the completion of the transaction, the chief financial officer owned 155,548 shares of the company’s stock, valued at $7,730,735.60. The trade was a 28.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 156,902 shares of company stock worth $7,796,666 over the last ninety days. 0.16% of the stock is owned by company insiders.

SLB Trading Up 0.6%

Shares of NYSE:SLB opened at $49.74 on Tuesday. SLB Limited has a 12-month low of $31.11 and a 12-month high of $54.80. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. The company has a market cap of $74.74 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 3.52 and a beta of 0.69. The stock has a 50 day moving average of $49.51 and a 200 day moving average of $42.01.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. During the same period in the prior year, the company posted $0.92 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities research analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.4%. The ex-dividend date was Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is currently 49.79%.

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.