SLB Limited $SLB Shares Sold by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings LLC reduced its stake in SLB Limited by 5.2%, selling 126,767 shares and owning approximately $77.7 million worth of stock now.
• SLB received mixed analyst ratings, with a consensus rating of "Moderate Buy" and an average target price of $52.00, reflecting various target price adjustments from multiple research firms.
• In its latest earnings report, SLB beat consensus estimates with an EPS of $0.74 but reported a 6.5% year-over-year decline in revenue, totaling $8.55 billion for the quarter.

Chevy Chase Trust Holdings LLC lowered its stake in shares of SLB Limited (NYSE:SLB - Free Report) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,299,254 shares of the oil and gas company's stock after selling 126,767 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.17% of SLB worth $77,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SLB. Charles Schwab Investment Management Inc. increased its stake in shares of SLB by 478.8% during the 1st 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 acquiring an additional 39,474,501 shares during the last quarter. Boston Partners increased its position in SLB by 27.7% during the 1st 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 in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in SLB by 211.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company's stock worth $250,507,000 after purchasing an additional 4,066,500 shares in the last quarter. Nuveen LLC acquired a new stake in SLB during the 1st quarter worth approximately $169,232,000. Finally, Banque Transatlantique SA increased its position in SLB by 21,737.8% during the 1st quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company's stock worth $71,821,000 after purchasing an additional 1,850,760 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Ratings Changes

SLB has been the subject of a number of research analyst reports. UBS Group dropped their target price on shares of SLB from $45.00 to $44.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Weiss Ratings reissued a "hold (c-)" rating on shares of SLB in a research report on Wednesday, October 8th. Stifel Nicolaus dropped their target price on shares of SLB from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Wells Fargo & Company downgraded shares of SLB from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of SLB from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.00.

SLB Stock Up 1.0%

Shares of NYSE:SLB opened at $32.88 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.97. The company has a 50 day moving average of $34.50 and a two-hundred day moving average of $34.65. The company has a market capitalization of $49.11 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 9.10 and a beta of 0.97.

SLB (NYSE:SLB - Get Free Report) last issued 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. SLB had a net margin of 11.53% and a return on equity of 20.99%. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter last year, the company earned $0.85 earnings per share. SLB's revenue for the quarter was down 6.5% on a year-over-year basis. As a group, analysts forecast that SLB Limited will post 3.38 earnings per share for the current fiscal year.

Insider Activity at SLB

In other news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.22% of the company's stock.

SLB 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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