Lmcg Investments LLC Sells 31,936 Shares of SLB Limited $SLB

Key Points

• Lmcg Investments LLC trimmed its SLB stake by 23.0%, selling 31,936 shares and retaining 106,904 shares valued at $4.103 million.
• EVP Steve Matthew Gassen sold 53,379 SLB shares at an average price of $56.18 (≈$2.999 million), reducing his ownership by 52.96% to 47,421 shares.
• Several brokers raised price targets (e.g., JPMorgan to $61, Citigroup to $68) and MarketBeat's consensus is a Moderate Buy with a $58.95 target; SLB slightly beat Q1 EPS estimates and announced a $0.295 quarterly dividend (2.1% yield, ex-dividend June 3).

Lmcg Investments LLC decreased its holdings in SLB Limited (NYSE:SLB - Free Report) by 23.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,904 shares of the oil and gas company's stock after selling 31,936 shares during the quarter. Lmcg Investments LLC's holdings in SLB were worth $4,103,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Manske Wealth Management grew its stake in shares of SLB by 27.7% in the fourth quarter. Manske Wealth Management now owns 15,442 shares of the oil and gas company's stock worth $593,000 after purchasing an additional 3,349 shares during the last quarter. Swedbank AB boosted its position in SLB by 24.4% during the fourth quarter. Swedbank AB now owns 617,630 shares of the oil and gas company's stock valued at $23,705,000 after acquiring an additional 121,174 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in SLB by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company's stock valued at $126,303,000 after acquiring an additional 128,660 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in SLB by 0.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 212,020 shares of the oil and gas company's stock valued at $8,137,000 after acquiring an additional 1,964 shares during the last quarter. Finally, Privium Fund Management B.V. boosted its position in SLB by 97.0% during the fourth quarter. Privium Fund Management B.V. now owns 38,805 shares of the oil and gas company's stock valued at $1,489,000 after acquiring an additional 19,108 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the company's 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 transaction, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on SLB. JPMorgan Chase & Co. upped their price target on shares of SLB from $54.00 to $61.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Jefferies Financial Group reaffirmed a "buy" rating and set a $65.00 price target on shares of SLB in a research report on Sunday, April 26th. Morgan Stanley set a $57.00 price target on shares of SLB in a research report on Monday, April 27th. Stifel Nicolaus upped their price target on shares of SLB from $56.00 to $61.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Finally, Citigroup upped their price target on shares of SLB from $59.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Three research 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's stock. According to MarketBeat.com, SLB has a consensus rating of "Moderate Buy" and a consensus price target of $58.95.

SLB Price Performance

Shares of NYSE SLB opened at $55.24 on Thursday. The firm's 50-day moving average price is $50.85 and its 200-day moving average price is $44.77. SLB Limited has a 1-year low of $31.64 and a 1-year high of $57.20. The firm has a market capitalization of $82.59 billion, a P/E ratio of 24.12, a P/E/G ratio of 3.95 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 announced 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. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The business's quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that SLB Limited will post 2.6 earnings per share for the current fiscal 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 issued a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. SLB's dividend payout ratio is currently 51.53%.

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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