Corient Private Wealth LLC Sells 27,502 Shares of SLB Limited $SLB

Key Points

• Corient Private Wealth trimmed its SLB stake by 3.3% in the fourth quarter, selling 27,502 shares and leaving it with 805,544 shares valued at about $30.9 million.
• SLB reported quarterly EPS of $0.52, narrowly topping estimates, while revenue came in at $8.72 billion, slightly below expectations but still up 2.7% year over year.
• The company announced a quarterly dividend of $0.295 per share, and several analysts recently raised price targets, with the stock carrying a consensus rating of Moderate Buy.

Corient Private Wealth LLC trimmed its holdings in shares of SLB Limited (NYSE:SLB - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 805,544 shares of the oil and gas company's stock after selling 27,502 shares during the quarter. Corient Private Wealth LLC owned about 0.05% of SLB worth $30,926,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of SLB by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company's stock worth $7,156,177,000 after purchasing an additional 1,080,999 shares in the last quarter. State Street Corp raised its stake in SLB by 1.0% in the fourth quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company's stock valued at $3,263,998,000 after purchasing an additional 799,218 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in SLB by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company's stock valued at $2,072,844,000 after purchasing an additional 1,458,650 shares during the last quarter. Morgan Stanley lifted its position in SLB by 1.3% during the fourth quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company's stock valued at $1,423,716,000 after purchasing an additional 482,533 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in SLB by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company's stock worth $1,292,993,000 after buying an additional 510,747 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Trading Up 0.1%

Shares of SLB opened at $48.12 on Monday. The firm has a market cap of $71.95 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.93 and a beta of 0.70. 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 fifty-two week low of $31.64 and a fifty-two week high of $58.82. The firm has a 50 day moving average price of $54.69 and a 200-day moving average price of $49.11.

SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. The company 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 was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. As a group, equities research analysts forecast that SLB Limited will post 2.62 earnings per share for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB's dividend payout ratio (DPR) is 51.53%.

Insider Activity

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction dated Friday, May 1st. The stock was 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 directly owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on SLB. TD Cowen increased their price target on shares of SLB from $55.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Sanford C. Bernstein upped 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. BMO Capital Markets increased their target price on SLB from $55.00 to $63.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. UBS Group raised their price target on SLB from $61.00 to $69.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Stifel Nicolaus lifted their price target on SLB from $61.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday. Three equities research 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.83.

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.

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.