NorthRock Partners LLC Sells 9,845 Shares of SLB Limited $SLB

NorthRock Partners LLC lowered its stake in shares of SLB Limited (NYSE:SLB - Free Report) by 54.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,288 shares of the oil and gas company's stock after selling 9,845 shares during the period. NorthRock Partners LLC's holdings in SLB were worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in shares of SLB by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after buying an additional 39,474,501 shares during the last quarter. Boston Partners increased its position in SLB by 27.7% in the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock worth $824,160,000 after purchasing an additional 4,300,222 shares during the last quarter. Northern Trust Corp increased its position in SLB by 4.4% in the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock worth $602,860,000 after purchasing an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP increased its position in SLB by 22.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock worth $375,738,000 after purchasing an additional 1,667,203 shares during the last quarter. Finally, Invesco Ltd. increased its position in SLB by 3.8% in the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock worth $320,154,000 after purchasing an additional 281,937 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SLB. Stifel Nicolaus reduced their price target on shares of SLB from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. JPMorgan Chase & Co. reduced their price target on shares of SLB from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Melius began coverage on shares of SLB in a research report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target on the stock. Atb Cap Markets upgraded shares of SLB from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Finally, UBS Group dropped their price objective on shares of SLB from $45.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.00.

SLB Trading Up 1.0%

Shares of SLB opened at $32.88 on Friday. The firm has a market capitalization of $49.11 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 9.10 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.97. The company has a 50-day moving average of $34.50 and a 200 day moving average of $34.65.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. SLB had a net margin of 11.53% and a return on equity of 20.99%. The firm's quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. On average, research analysts expect that SLB Limited will post 3.38 EPS for the current year.

Insider Transactions at SLB

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares of the company's stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is currently owned by company insiders.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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