SLB Limited $SLB Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in SLB Limited (NYSE:SLB) by 11.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,247,751 shares of the oil and gas company’s stock after selling 1,115,526 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of SLB worth $278,774,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Brighton Jones LLC grew its position in SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC purchased a new position in shares of SLB in the fourth quarter worth $238,000. Mutual Advisors LLC lifted its stake in shares of SLB by 97.2% during the first quarter. Mutual Advisors LLC now owns 10,359 shares of the oil and gas company’s stock worth $433,000 after buying an additional 5,107 shares during the period. OneDigital Investment Advisors LLC grew its holdings in shares of SLB by 26.7% during the first quarter. OneDigital Investment Advisors LLC now owns 13,261 shares of the oil and gas company’s stock valued at $554,000 after buying an additional 2,794 shares during the last quarter. Finally, Capital Investment Advisory Services LLC acquired a new position in shares of SLB in the 1st quarter valued at $333,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Trading Down 2.4%

Shares of NYSE:SLB opened at $36.12 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. SLB Limited has a 12-month low of $31.11 and a 12-month high of $44.97. The business has a 50 day moving average of $34.94 and a two-hundred day moving average of $34.64. The company has a market capitalization of $53.96 billion, a PE ratio of 13.94, a PEG ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last posted its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. During the same period in the previous year, the firm earned $0.89 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. SLB’s dividend payout ratio (DPR) is 44.02%.

Insider Activity at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays lifted their price target on SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Melius started coverage on SLB in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Redburn Partners set a $48.00 target price on SLB in a research report on Monday. Zacks Research upgraded shares of SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Finally, Wells Fargo & Company lowered shares of SLB from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, SLB has an average rating of “Moderate Buy” and an average price target of $51.28.

About SLB

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.