Smithbridge Asset Management Inc. DE Sells 33,313 Shares of SLB Limited $SLB

Key Points

• Smithbridge Asset Management cut its SLB stake by 51% in the first quarter, selling 33,313 shares and leaving it with 32,027 shares valued at about $1.65 million.
• SLB insiders also sold stock, including a director who sold 2,000 shares and an EVP who sold 53,379 shares, suggesting notable insider reduction in ownership.
• Analysts remain constructive overall: several kept Buy/Outperform views, and the stock carries a consensus Moderate Buy rating with an average target price of $60.17 versus a recent price around $45.12.

Smithbridge Asset Management Inc. DE lowered its stake in shares of SLB Limited (NYSE:SLB - Free Report) by 51.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,027 shares of the oil and gas company's stock after selling 33,313 shares during the quarter. Smithbridge Asset Management Inc. DE's holdings in SLB were worth $1,646,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. MV Capital Management Inc. bought a new position in shares of SLB during the 4th quarter valued at approximately $28,000. Steph & Co. raised its stake in shares of 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 buying an additional 394 shares during the period. Strategic Wealth Advisors LLC purchased a new position in shares of SLB during the 4th quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SLB during the 4th quarter worth $31,000. Finally, Lloyd Advisory Services LLC. bought a new stake in SLB in the 4th quarter valued at about $31,000. Institutional investors own 81.99% of the company's stock.

Insider Buying and Selling at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. 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 firm's 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 transaction, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents 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.

Analysts Set New Price Targets

Several analysts have recently issued reports on SLB shares. Sanford C. Bernstein boosted their price target on shares of SLB from $56.10 to $71.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. Weiss Ratings downgraded SLB from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Morgan Stanley set a $57.00 price objective on SLB in a research note on Monday, April 27th. Evercore restated an "outperform" rating and issued a $64.00 target price on shares of SLB in a research note on Monday, April 27th. Finally, TD Cowen decreased their price target on SLB from $66.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday. Two 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 given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $60.17.

Key Stories Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB won a seven-year contract from Kuwait Oil Company under the Ahmadi Innovation Valley initiative, a deal that should support applied research, technology deployment and digital innovation work over a long period. SLB Awarded Seven-Year Contract Under Kuwait Oil Company's Ahmadi Innovation Valley Initiative
• Positive Sentiment: Industrial Realty Group said SLB expanded its long-term lease in Shreveport, showing continued operational growth and commitment to the site. IRG Expands Long-Term Lease with SLB in Shreveport, LA
• Positive Sentiment: Citigroup lowered its price target to $63 from $68, but kept a Buy rating, signaling the stock still has meaningful upside from current levels. Benzinga report on Citigroup price target cut
• Neutral Sentiment: Several commentary pieces argued SLB may be oversold after a sharp multi-week selloff, with analysts still revising earnings estimates higher; this could help support a rebound, but it is not a direct catalyst. Down 15.3% in 4 Weeks, Here's Why You Should You Buy the Dip in SLB (SLB)
• Neutral Sentiment: Multiple articles compared SLB with other stocks on valuation, which is generally more of a discussion topic than a direct stock-moving event. SLB vs. NPO: Which Stock Is the Better Value Option?
• Negative Sentiment: News that a peace deal in Iran is pressuring oil prices is hurting the energy complex and contributing to weakness in SLB. This Energy Stock Tops My July Buy List
• Negative Sentiment: One market note highlighted SLB’s recent weakness and said the stock continues to trade lower as broader market conditions and oil-related concerns remain in focus. SLB (SLB) Stock Sinks As Market Gains: Here's Why

SLB Price Performance

Shares of NYSE SLB opened at $45.12 on Thursday. The stock's 50-day simple moving average is $53.85 and its two-hundred day simple moving average is $49.59. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The firm has a market capitalization of $67.46 billion, a P/E ratio of 19.70, a P/E/G ratio of 1.87 and a beta of 0.73. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.SLB's revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, equities analysts anticipate that SLB Limited will post 2.62 EPS for the current fiscal 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 given a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.6%. SLB's dividend payout ratio (DPR) is 51.53%.

About SLB

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLB Limited (NYSE:SLB - Free Report).

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.