Capital World Investors Has $897.12 Million Position in SLB Limited $SLB

Capital World Investors cut its position in shares of SLB Limited (NYSE:SLB - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,374,144 shares of the oil and gas company's stock after selling 2,113,511 shares during the quarter. Capital World Investors owned 1.56% of SLB worth $897,115,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in SLB by 23.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company's stock valued at $6,371,335,000 after acquiring an additional 35,057,313 shares in the last quarter. Norges Bank acquired a new stake in shares of SLB during the 4th quarter worth approximately $809,557,000. Bank of New York Mellon Corp increased its position in shares of SLB by 64.4% during the fourth quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company's stock valued at $602,444,000 after purchasing an additional 6,149,511 shares during the period. State Street Corp increased its position in shares of SLB by 7.0% during the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company's stock valued at $2,898,037,000 after purchasing an additional 5,466,786 shares during the period. Finally, Capital International Investors raised its stake in shares of SLB by 86.9% in the fourth quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company's stock valued at $446,247,000 after purchasing an additional 5,404,948 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares of the company's stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by corporate insiders.

SLB Stock Down 0.2%

Shares of NYSE:SLB opened at $54.79 on Monday. The company's fifty day moving average is $54.22 and its 200-day moving average is $47.89. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a market capitalization of $81.91 billion, a PE ratio of 23.92, a P/E/G ratio of 2.22 and a beta of 0.70.

SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm 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%. The firm's quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.72 EPS. Equities research analysts predict that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB's payout ratio is presently 51.53%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings cut SLB from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Morgan Stanley set a $57.00 price objective on shares of SLB in a research note on Monday, April 27th. Susquehanna raised their price objective on shares of SLB from $60.00 to $65.00 and gave the stock a "positive" rating in a report on Monday, April 27th. Jefferies Financial Group reissued a "buy" rating and issued a $65.00 target price on shares of SLB in a research note on Sunday, April 26th. Finally, Sanford C. Bernstein raised their price target on shares of SLB from $56.10 to $71.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, SLB has a consensus rating of "Moderate Buy" and a consensus price target of $60.67.

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLB Limited (NYSE:SLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.