SLB Limited $SLB Shares Sold by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp trimmed its position in SLB by 5.6% in Q4, selling 28,084 shares and leaving it with 471,585 shares worth $18.10 million; institutional investors now own about 81.99% of the stock.
• EVP Steve Matthew Gassen sold 53,379 SLB shares for roughly $2.9988 million on May 1, cutting his holding by 52.96% (insiders hold ~0.16% of shares).
• SLB reported Q results of $0.52 EPS (beating by $0.01) on $8.72B revenue (slightly below expectations) and announced a quarterly dividend of $0.295 (annualized $1.18, yield ~2.1%) with an ex-dividend date of June 3 and payment on July 9.

Fifth Third Bancorp cut its stake in SLB Limited (NYSE:SLB - Free Report) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 471,585 shares of the oil and gas company's stock after selling 28,084 shares during the period. Fifth Third Bancorp's holdings in SLB were worth $18,099,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Steph & Co. raised its holdings in SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 394 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in SLB in the fourth quarter valued at $31,000. Root Financial Partners LLC acquired a new stake in SLB in the third quarter valued at $29,000. Eagle Bay Advisors LLC acquired a new stake in SLB in the fourth quarter valued at $34,000. Finally, Strengthening Families & Communities LLC acquired a new stake in SLB in the third quarter valued at $31,000. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Up 0.2%

Shares of NYSE:SLB opened at $57.00 on Friday. The stock has a market capitalization of $85.22 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 4.02 and a beta of 0.72. SLB Limited has a 1-year low of $31.64 and a 1-year high of $57.20. The company's fifty day moving average is $50.67 and its two-hundred day moving average is $44.29. 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 earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company had revenue of $8.72 billion for the quarter, compared to analysts' expectations of $8.76 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The firm's revenue was up 2.7% compared to the same quarter last year. Equities analysts anticipate that SLB Limited will post 2.6 EPS for the current year.

SLB Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB's dividend payout ratio (DPR) is 51.53%.

Insider Buying and Selling at SLB

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the sale, the executive vice president owned 47,421 shares of the company's stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SLB. The Goldman Sachs Group upped their price target on shares of SLB from $53.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Royal Bank Of Canada reissued an "outperform" rating and set a $61.00 target price on shares of SLB in a report on Monday, April 27th. Weiss Ratings raised shares of SLB from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, April 22nd. UBS Group increased their target price on shares of SLB from $61.00 to $69.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Piper Sandler increased their target price on shares of SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $58.95.

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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