Smithbridge Asset Management Inc. DE Has $2.51 Million Stock Holdings in SLB Limited $SLB

Key Points

• Smithbridge Asset Management more than doubled its stake in SLB during the fourth quarter, increasing holdings by 114.4% to 65,340 shares valued at about $2.51 million.
• Several other institutional investors also adjusted positions in SLB, and institutional ownership remains high at 81.99%.
• SLB reported quarterly EPS of $0.52, slightly ahead of estimates, and its board approved a quarterly dividend of $0.295 per share payable July 9, implying a 2.1% yield.

Smithbridge Asset Management Inc. DE lifted its stake in SLB Limited (NYSE:SLB - Free Report) by 114.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,340 shares of the oil and gas company's stock after acquiring an additional 34,858 shares during the quarter. Smithbridge Asset Management Inc. DE's holdings in SLB were worth $2,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Steph & Co. increased 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 worth $31,000 after buying an additional 394 shares during the last quarter. Strategic Wealth Advisors LLC acquired a new position in SLB in the fourth quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in SLB in the fourth quarter worth approximately $31,000. Lloyd Advisory Services LLC. acquired a new position in SLB in the fourth quarter worth approximately $31,000. Finally, Bruce G. Allen Investments LLC increased its holdings in SLB by 37.0% in the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company's stock worth $32,000 after buying an additional 227 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the sale, the director owned 16,953 shares in the company, valued at approximately $921,056.49. The trade was a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stifel Nicolaus increased their price objective on SLB from $56.00 to $61.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Sanford C. Bernstein increased their price objective on SLB from $56.10 to $71.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of SLB from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Susquehanna increased their target price on shares of SLB from $60.00 to $65.00 and gave the stock a "positive" rating in a research report on Monday, April 27th. Finally, Morgan Stanley set a $57.00 target price on shares of SLB in a research report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.67.

SLB Trading Down 0.5%

Shares of NYSE:SLB opened at $55.56 on Thursday. The company has a market cap of $83.06 billion, a P/E ratio of 24.26, a P/E/G ratio of 2.26 and a beta of 0.70. The stock's 50-day moving average is $54.43 and its 200-day moving average is $48.32. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. 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, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. Equities research analysts predict that SLB Limited will post 2.62 earnings per share for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. SLB's dividend payout ratio (DPR) is presently 51.53%.

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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