TD Asset Management Inc Sells 27,064 Shares of SLB Limited $SLB

Key Points

• TD Asset Management Inc reduced its stake in SLB Limited by 4.9%, selling 27,064 shares during the 2nd quarter, leaving it with holdings valued at $17.6 million.
• SLB reported $0.69 EPS for the quarter, exceeding analyst expectations, but its revenue declined 2.5% year-over-year.
• The company declared a quarterly dividend of $0.285, which equates to an annual yield of 3.5% and is set to be paid on January 8th.

TD Asset Management Inc reduced its holdings in SLB Limited (NYSE:SLB - Free Report) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 522,173 shares of the oil and gas company's stock after selling 27,064 shares during the quarter. TD Asset Management Inc's holdings in SLB were worth $17,649,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nuveen LLC acquired a new position in SLB in the first quarter worth $169,232,000. Scharf Investments LLC raised its holdings in shares of SLB by 20.5% in the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after buying an additional 281,773 shares during the last quarter. Alan B Lancz & Associates Inc. acquired a new position in SLB during the 1st quarter worth about $308,000. Godsey & Gibb Inc. grew its holdings in SLB by 9.6% during the 2nd quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company's stock worth $16,667,000 after acquiring an additional 43,135 shares during the last quarter. Finally, Shell Asset Management Co. increased its position in SLB by 48.1% in the 2nd quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company's stock valued at $2,121,000 after acquiring an additional 20,387 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Price Performance

SLB opened at $32.58 on Friday. The company has a fifty day moving average price of $34.49 and a two-hundred day moving average price of $34.58. The firm has a market capitalization of $48.66 billion, a PE ratio of 11.16, a P/E/G ratio of 9.20 and a beta of 0.97. SLB Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

SLB (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. SLB had a return on equity of 20.99% and a net margin of 11.53%.The firm's revenue was down 2.5% on a year-over-year basis. During the same period last year, the company earned $0.89 EPS. As a group, analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, December 3rd. SLB's dividend payout ratio (DPR) is currently 39.04%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SLB shares. Melius assumed coverage on shares of SLB in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target on the stock. UBS Group decreased their price objective on SLB from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Barclays dropped their target price on SLB from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Jefferies Financial Group decreased their price target on SLB from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Finally, Stifel Nicolaus dropped their price objective on SLB from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $52.00.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider owned 202,201 shares of the company's stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is owned by insiders.

SLB Company 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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