Americana Partners LLC Lowers Position in SLB Limited $SLB

Key Points

• Americana Partners LLC cut its SLB stake by 41.8% in the fourth quarter, selling 103,811 shares and ending with 144,246 shares valued at about $5.54 million.
• Analysts remain broadly upbeat on SLB, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus rating and average target price of $59.74.
• SLB reported quarterly EPS of $0.52, slightly ahead of estimates, and also announced a quarterly dividend of $0.295 per share to be paid on July 9, implying a 2.1% yield.

Americana Partners LLC decreased its position in SLB Limited (NYSE:SLB - Free Report) by 41.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 144,246 shares of the oil and gas company's stock after selling 103,811 shares during the period. Americana Partners LLC's holdings in SLB were worth $5,536,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC purchased a new stake in SLB during the third quarter worth about $29,000. Strategic Wealth Advisors LLC purchased a new stake in SLB during the fourth quarter worth about $30,000. Strengthening Families & Communities LLC purchased a new stake in SLB during the third quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in SLB during the fourth quarter worth about $31,000. Finally, Steph & Co. boosted its holdings 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. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research reports. BMO Capital Markets lifted their target price on shares of SLB from $55.00 to $63.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. The Goldman Sachs Group lifted their target price on shares of SLB from $53.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. Sanford C. Bernstein lifted their target price on shares of SLB from $56.10 to $71.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Citigroup lifted their target price on shares of SLB from $59.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Weiss Ratings cut shares of SLB from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SLB currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.74.

SLB Price Performance

SLB opened at $57.27 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. SLB Limited has a 52-week low of $31.64 and a 52-week high of $57.88. The company has a 50 day moving average of $52.40 and a two-hundred day moving average of $46.43. The company has a market cap of $85.63 billion, a P/E ratio of 25.01, a P/E/G ratio of 2.32 and a beta of 0.72.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. SLB's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. On average, analysts expect that SLB Limited will post 2.61 earnings per share for the current year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. SLB's dividend payout ratio is 51.53%.

Insider Buying and Selling at SLB

In other news, 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 value of $2,998,832.22. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $108,660.00. Following the completion of the transaction, the director owned 16,953 shares of the company's stock, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by corporate insiders.

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.

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