Banque Cantonale Vaudoise Lowers Stock Holdings in SLB Limited $SLB

Key Points

• Banque Cantonale Vaudoise cut its SLB stake by 27.4% in the fourth quarter, leaving it with 61,095 shares valued at about $2.35 million.
• SLB reported mixed quarterly results: earnings per share of $0.52 slightly beat estimates, while revenue of $8.72 billion came in just below expectations; revenue still rose 2.7% year over year.
• Management activity and analyst sentiment remain notable, with two insiders recently selling shares and analysts maintaining a consensus Moderate Buy rating with an average price target of $59.74.

Banque Cantonale Vaudoise decreased its position in shares of SLB Limited (NYSE:SLB - Free Report) by 27.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,095 shares of the oil and gas company's stock after selling 23,052 shares during the period. Banque Cantonale Vaudoise's holdings in SLB were worth $2,345,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of SLB by 9.6% in the third quarter. Principal Financial Group Inc. now owns 1,677,257 shares of the oil and gas company's stock worth $57,647,000 after buying an additional 147,175 shares during the period. New York State Common Retirement Fund increased its holdings in shares of SLB by 3.0% in the third quarter. New York State Common Retirement Fund now owns 1,879,137 shares of the oil and gas company's stock worth $64,586,000 after buying an additional 54,600 shares during the period. National Pension Service increased its holdings in shares of SLB by 3.7% in the third quarter. National Pension Service now owns 1,973,518 shares of the oil and gas company's stock worth $67,830,000 after buying an additional 69,826 shares during the period. State of Michigan Retirement System increased its holdings in SLB by 7.9% during the 3rd quarter. State of Michigan Retirement System now owns 461,838 shares of the oil and gas company's stock valued at $15,873,000 after purchasing an additional 33,700 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its holdings in SLB by 67.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 273,210 shares of the oil and gas company's stock valued at $9,390,000 after purchasing an additional 110,177 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Stock Performance

SLB stock opened at $57.29 on Friday. The stock's 50 day simple moving average is $52.22 and its two-hundred day simple moving average is $46.35. 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 stock has a market cap of $85.64 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 2.32 and a beta of 0.72. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $57.70.

SLB (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $8.72 billion for 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 business's revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. As a group, analysts expect that SLB Limited will post 2.61 earnings per share for the current fiscal year.

SLB Announces Dividend

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

Insider Activity at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the sale, the director directly owned 16,953 shares of the company's stock, valued at approximately $921,056.49. The trade was a 10.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction that occurred 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 sale, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings downgraded SLB from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Bank of America boosted their price target on SLB from $50.00 to $55.00 and gave the company a "buy" rating in a report on Monday, January 26th. Royal Bank Of Canada restated an "outperform" rating and set a $61.00 price target on shares of SLB in a report on Monday, April 27th. Loop Capital set a $48.00 price target on SLB in a report on Tuesday, January 27th. Finally, BMO Capital Markets boosted their price target on SLB from $55.00 to $63.00 and gave the company an "outperform" rating in a report on Monday, April 27th. Three 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.74.

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.

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