Sumitomo Mitsui Trust Group Inc. Sells 25,071 Shares of SLB Limited $SLB

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of SLB Limited (NYSE:SLB) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,801,542 shares of the oil and gas company’s stock after selling 25,071 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in SLB were worth $185,211,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in SLB. Evergreen Advisors LLC acquired a new stake in shares of SLB during the first quarter worth approximately $26,000. Costello Asset Management INC boosted its stake in 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 acquiring an additional 280 shares during the last quarter. Arlington Trust Co LLC boosted its stake in SLB by 66.5% during the 2nd quarter. Arlington Trust Co LLC now owns 701 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 280 shares during the last quarter. Maryland Capital Advisors Inc. acquired a new position in SLB during the 2nd quarter worth $35,000. Finally, Sound Income Strategies LLC grew its holdings in SLB by 71.1% during the 1st quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 324 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Dianne Ralston sold 20,986 shares of the company’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $53.57, for a total transaction of $1,124,220.02. Following the completion of the transaction, the insider directly owned 205,053 shares in the company, valued at $10,984,689.21. This represents a 9.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Howard Guild sold 10,047 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $53.65, for a total value of $539,021.55. Following the completion of the sale, the chief accounting officer directly owned 12,845 shares in the company, valued at $689,134.25. This represents a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of several research analyst reports. Evercore boosted their target price on shares of SLB from $63.00 to $66.00 in a research report on Thursday, October 8th. UBS Group reduced their price target on shares of SLB from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. Sanford C. Bernstein reiterated an “outperform” rating on shares of SLB in a research note on Tuesday, September 1st. JPMorgan Chase & Co. boosted their price objective on SLB from $61.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Finally, Morgan Stanley upped their price objective on SLB from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Twenty-four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.52.

SLB Stock Performance

Shares of NYSE SLB opened at $53.78 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.39 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average price is $52.50 and its two-hundred day moving average price is $51.37. SLB Limited has a 52-week low of $34.65 and a 52-week high of $60.46. The stock has a market capitalization of $79.38 billion, a P/E ratio of 26.11, a P/E/G ratio of 2.98 and a beta of 0.83.

SLB (NYSE:SLB) last posted its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.27 billion. SLB had a return on equity of 13.77% and a net margin of 8.40%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. As a group, sell-side analysts forecast that SLB Limited will post 2.46 earnings per share for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 2nd will be given a dividend of $0.2950 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB’s payout ratio is currently 57.28%.

SLB Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.