SLB Limited $SLB is Olstein Capital Management L.P.'s 9th Largest Position

Olstein Capital Management L.P. lessened its holdings in SLB Limited (NYSE:SLB - Free Report) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 220,000 shares of the oil and gas company's stock after selling 33,000 shares during the period. SLB makes up about 1.7% of Olstein Capital Management L.P.'s investment portfolio, making the stock its 9th largest position. Olstein Capital Management L.P.'s holdings in SLB were worth $8,444,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Foster Victor Wealth Advisors LLC increased its holdings in shares of SLB by 3.0% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 8,281 shares of the oil and gas company's stock worth $318,000 after buying an additional 238 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of SLB by 1.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,574 shares of the oil and gas company's stock valued at $636,000 after acquiring an additional 254 shares during the last quarter. apricus wealth LLC grew its position in SLB by 0.3% in the fourth quarter. apricus wealth LLC now owns 84,740 shares of the oil and gas company's stock worth $3,252,000 after acquiring an additional 270 shares in the last quarter. Private Trust Co. NA grew its position in SLB by 9.2% in the fourth quarter. Private Trust Co. NA now owns 3,277 shares of the oil and gas company's stock worth $126,000 after acquiring an additional 277 shares in the last quarter. Finally, Howard Capital Management Inc. increased its stake in SLB by 3.2% during the third quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company's stock worth $315,000 after acquiring an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Trading Down 3.9%

SLB opened at $53.04 on Friday. The stock has a market cap of $79.29 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 3.88 and a beta of 0.72. The stock's 50 day moving average price is $50.88 and its 200-day moving average price is $44.92. SLB Limited has a one year low of $31.64 and a one year high of $57.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34.

SLB (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. During the same period last year, the company earned $0.72 EPS. SLB's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that SLB Limited will post 2.61 EPS for the current year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio (DPR) is 51.53%.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the business's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the sale, the director directly owned 16,953 shares of the company's stock, valued at approximately $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the transaction, the executive vice president owned 47,421 shares in the company, valued at approximately $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 currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SLB shares. The Goldman Sachs Group raised their price objective on SLB from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, March 4th. Sanford C. Bernstein increased their price target on SLB from $52.30 to $56.10 and gave the company an "outperform" rating in a report on Thursday, March 12th. Bank of America raised their price target on SLB from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, January 26th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $61.00 price objective on shares of SLB in a research note on Monday, April 27th. Finally, Wall Street Zen cut shares of SLB from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, SLB presently has a consensus rating of "Moderate Buy" and an average price target of $59.74.

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.

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.