Lockheed Martin Investment Management Co. Sells 1,060 Shares of SLB Limited $SLB

Lockheed Martin Investment Management Co. lowered its stake in shares of SLB Limited (NYSE:SLB) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,170 shares of the oil and gas company’s stock after selling 1,060 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in SLB were worth $1,290,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. lifted its stake in SLB by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 477 shares during the last quarter. Atticus Wealth Management LLC purchased a new position in SLB in the second quarter valued at approximately $29,000. Atlas Capital Advisors Inc. purchased a new position in SLB in the first quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in SLB by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in SLB during the first quarter worth about $38,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of several research analyst reports. UBS Group reaffirmed a “buy” rating and issued a $44.00 price target on shares of SLB in a report on Tuesday, October 21st. Wells Fargo & Company downgraded shares of SLB from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. Stifel Nicolaus decreased their target price on shares of SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Finally, Susquehanna decreased their target price on shares of SLB from $44.00 to $42.00 and set a “positive” rating on the stock in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.69.

SLB Stock Down 1.4%

NYSE:SLB opened at $36.32 on Friday. The firm’s 50-day moving average price is $34.89 and its 200-day moving average price is $34.60. The company has a market capitalization of $54.25 billion, a PE ratio of 14.02, a P/E/G ratio of 10.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.97.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The firm had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. On average, equities analysts predict that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Announces Dividend

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 paid a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.1%. SLB’s payout ratio is presently 44.02%.

Insider Transactions at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of the firm’s 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently 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.