Fisher Asset Management LLC Sells 79,992 Shares of SLB Limited $SLB

Key Points

• Fisher Asset Management trimmed its SLB stake by 7.1% in the fourth quarter, selling 79,992 shares and ending with 1,045,018 shares worth about $40.1 million.
• SLB reported better-than-expected quarterly EPS of $0.52, though revenue of $8.72 billion slightly missed estimates; revenue still rose 2.7% year over year.
• The company also announced a quarterly dividend of $0.295 per share payable July 9, while analysts remain cautiously bullish with a consensus rating of “Moderate Buy” and an average price target of $59.74.

Fisher Asset Management LLC decreased its holdings in SLB Limited (NYSE:SLB - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,045,018 shares of the oil and gas company's stock after selling 79,992 shares during the period. Fisher Asset Management LLC owned 0.07% of SLB worth $40,108,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SLB. Brighton Jones LLC boosted its stake in shares of SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after acquiring an additional 1,166 shares during the period. Bison Wealth LLC bought a new position in shares of SLB in the fourth quarter worth about $238,000. Marshall Wace LLP bought a new position in shares of SLB in the second quarter worth about $8,628,000. Nebula Research & Development LLC boosted its stake in shares of SLB by 76.0% in the second quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company's stock worth $824,000 after acquiring an additional 10,522 shares during the period. Finally, Diversify Advisory Services LLC boosted its stake in shares of SLB by 7.6% in the second quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company's stock worth $373,000 after acquiring an additional 799 shares during the period. Institutional investors own 81.99% of the company's stock.

SLB Price Performance

Shares of SLB stock opened at $58.18 on Wednesday. The stock has a 50 day moving average of $52.92 and a 200 day moving average of $46.80. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The firm has a market cap of $86.98 billion, a PE ratio of 25.41, a PEG ratio of 2.32 and a beta of 0.72. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.

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 (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company earned $0.72 EPS. On average, research analysts expect that SLB Limited will post 2.61 EPS for the current fiscal year.

SLB Dividend Announcement

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 $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB's dividend payout ratio (DPR) is presently 51.53%.

Insider Activity at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the firm's 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 sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm's 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 completion of the sale, the executive vice president directly owned 47,421 shares of the company's stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent analyst reports. Wall Street Zen lowered SLB from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Weiss Ratings lowered SLB from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. UBS Group increased their price target on SLB from $61.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Citigroup increased their price target on SLB from $59.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, BMO Capital Markets increased their price target on SLB from $55.00 to $63.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.74.

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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