Mitsubishi UFJ Trust & Banking Corp Sells 28,521 Shares of SLB Limited $SLB

Key Points

• Mitsubishi UFJ Trust & Banking Corp trimmed its SLB stake by 4.4%, selling 28,521 shares and now holds 620,476 shares valued at about $23.8 million.
• SLB beat EPS estimates ($0.52 vs. $0.51) while revenue was $8.72 billion (slightly under estimates) and rose 2.7% year‑over‑year; the company also declared a quarterly dividend of $0.295 (annualized $1.18, ~2.1% yield, ex-dividend June 3).
• Analysts have a consensus "Moderate Buy" rating with a $58.32 target, and the stock trades near its 52‑week high (opened $55.63; 52‑week high $56.90) with a market cap of roughly $83.6 billion.

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of SLB Limited (NYSE:SLB - Free Report) by 4.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 620,476 shares of the oil and gas company's stock after selling 28,521 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in SLB were worth $23,814,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in SLB by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company's stock worth $7,156,177,000 after acquiring an additional 1,080,999 shares during the period. State Street Corp grew its holdings in shares of SLB by 7.0% in 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in SLB by 25.2% in the third quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company's stock worth $528,217,000 after buying an additional 3,094,764 shares during the last quarter. Northern Trust Corp lifted its position in SLB by 10.7% in the third quarter. Northern Trust Corp now owns 15,359,990 shares of the oil and gas company's stock worth $527,923,000 after buying an additional 1,490,859 shares during the last quarter. Finally, Amundi lifted its position in SLB by 24.4% in the third quarter. Amundi now owns 14,198,874 shares of the oil and gas company's stock worth $491,139,000 after buying an additional 2,783,134 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

SLB Stock Performance

SLB opened at $55.63 on Thursday. SLB Limited has a 52-week low of $31.64 and a 52-week high of $56.90. 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 market cap of $83.59 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 3.79 and a beta of 0.69. The firm's 50-day moving average price is $50.56 and its 200-day moving average price is $44.20.

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. 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 the consensus estimate of $8.76 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that SLB Limited will post 2.67 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio is 51.53%.

Analysts Set New Price Targets

Several analysts have recently weighed in on SLB shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $61.00 target price on shares of SLB in a research report on Monday. Loop Capital set a $48.00 target price on SLB in a research note on Tuesday, January 27th. Citigroup lifted their target price on SLB from $53.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, January 26th. TD Cowen lifted their target price on SLB from $55.00 to $66.00 and gave the company a "buy" rating in a research note on Monday. Finally, Stifel Nicolaus boosted their price target on SLB from $56.00 to $61.00 and gave the stock a "buy" rating in a research note on Monday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $58.32.

SLB 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.

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.