Penobscot Investment Management Company Inc. Sells 23,841 Shares of SLB Limited $SLB

Key Points

• Penobscot Investment Management cut its stake in SLB by 65.7%, selling 23,841 shares in Q4 and leaving it with 12,470 shares valued at about $479,000.
• Wall Street sentiment is largely positive, with several recent price-target raises (e.g., Goldman to $60, JPMorgan to $54) and a MarketBeat consensus of Moderate Buy with an average target of $54.27.
• Insiders have been net sellers — 156,902 shares worth roughly $7.8 million sold over the past 90 days (notable sales by Dianne Ralston and Howard Guild) — while institutional investors own about 81.99% of the stock.

Penobscot Investment Management Company Inc. reduced its position in shares of SLB Limited (NYSE:SLB - Free Report) by 65.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,470 shares of the oil and gas company's stock after selling 23,841 shares during the quarter. Penobscot Investment Management Company Inc.'s holdings in SLB were worth $479,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Synergy Asset Management LLC boosted its holdings in shares of SLB by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company's stock valued at $2,732,000 after acquiring an additional 40,415 shares during the last quarter. Americana Partners LLC boosted its holdings in shares of SLB by 10.1% during the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company's stock valued at $8,526,000 after acquiring an additional 22,706 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of SLB by 13.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company's stock valued at $7,220,000 after acquiring an additional 25,417 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of SLB by 4.9% during the 3rd quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company's stock valued at $72,354,000 after acquiring an additional 100,918 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its holdings in shares of SLB by 1,937.4% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company's stock valued at $34,265,000 after acquiring an additional 948,015 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Argus raised shares of SLB to a "strong-buy" rating in a report on Monday, January 26th. JPMorgan Chase & Co. raised their price objective on shares of SLB from $43.00 to $54.00 and gave the stock an "overweight" rating in a report on Monday, January 26th. UBS Group reissued a "buy" rating on shares of SLB in a report on Tuesday, January 27th. The Goldman Sachs Group raised their price objective on shares of SLB from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. Finally, Jefferies Financial Group raised their price objective on shares of SLB from $51.00 to $58.00 and gave the stock a "buy" rating in a report on Sunday, February 1st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.27.

SLB Price Performance

Shares of NYSE:SLB opened at $54.37 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. SLB Limited has a 1-year low of $31.64 and a 1-year high of $54.85. The company has a market capitalization of $81.69 billion, a P/E ratio of 22.94, a P/E/G ratio of 3.62 and a beta of 0.69. The firm's 50 day simple moving average is $50.07 and its two-hundred day simple moving average is $43.43.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. The firm had revenue of $9.75 billion for the quarter, compared to analysts' expectations of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 earnings per share. Research analysts expect that SLB Limited will post 2.67 EPS for the current fiscal year.

Insider Activity

In other news, insider Dianne B. Ralston sold 18,617 shares of SLB stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.50, for a total transaction of $921,541.50. Following the sale, the insider owned 224,097 shares in the company, valued at $11,092,801.50. This trade represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $659,419.60. Following the sale, the chief accounting officer owned 22,407 shares in the company, valued at approximately $1,113,627.90. The trade was a 37.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 156,902 shares of company stock valued at $7,796,666. Company insiders own 0.16% of the company's stock.

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.

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