Brooklands Fund Management Ltd Sells 184,619 Shares of SLB Limited $SLB

Key Points

• Brooklands Fund Management sharply reduced its SLB stake in the fourth quarter, selling 184,619 shares and cutting its position by 76.9% to 55,381 shares worth about $2.13 million.
• SLB reported better-than-expected quarterly earnings of $0.52 per share, though revenue came in slightly below estimates at $8.72 billion; revenue still rose 2.7% year over year.
• The company also announced a quarterly dividend of $0.295 per share, while analysts overall remain constructive, with a consensus Moderate Buy rating and a price target of $60.67.

Brooklands Fund Management Ltd reduced its position in shares of SLB Limited (NYSE:SLB - Free Report) by 76.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,381 shares of the oil and gas company's stock after selling 184,619 shares during the period. SLB accounts for approximately 0.3% of Brooklands Fund Management Ltd's holdings, making the stock its 16th biggest position. Brooklands Fund Management Ltd's holdings in SLB were worth $2,126,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after buying an additional 1,166 shares during the last quarter. Bison Wealth LLC acquired a new position in shares of SLB during the fourth quarter valued at about $238,000. Marshall Wace LLP acquired a new position in shares of SLB during the second quarter valued at about $8,628,000. Nebula Research & Development LLC raised its position in shares of SLB by 76.0% during the second quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company's stock valued at $824,000 after buying an additional 10,522 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its stake in shares of SLB by 7.6% in the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company's stock valued at $373,000 after buying an additional 799 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Trading Down 4.6%

Shares of SLB stock opened at $53.60 on Tuesday. The stock has a market capitalization of $80.13 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 2.28 and a beta of 0.70. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a 50-day simple moving average of $54.72 and a 200 day simple moving average of $48.72. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82.

SLB (NYSE:SLB - Get Free Report) last announced its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. Research analysts expect that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. SLB's dividend payout ratio (DPR) is 51.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of SLB from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Weiss Ratings cut shares of SLB from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. TD Cowen increased their price objective on shares of SLB from $55.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, April 27th. BMO Capital Markets increased their price objective on shares of SLB from $55.00 to $63.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. Finally, The Goldman Sachs Group increased their price objective on shares of SLB from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, March 4th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.67.

Insider Transactions at SLB

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction dated 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 owned 16,953 shares of the company's stock, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.16% of the company's stock.

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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