First Eagle Investment Management LLC Sells 396,660 Shares of SLB Limited $SLB

First Eagle Investment Management LLC lowered its stake in SLB Limited (NYSE:SLB) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,530,992 shares of the oil and gas company’s stock after selling 396,660 shares during the quarter. SLB makes up approximately 1.8% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 17th largest position. First Eagle Investment Management LLC’s holdings in SLB were worth $930,548,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in SLB by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after purchasing an additional 39,474,501 shares in the last quarter. Boston Partners grew its stake in shares of SLB by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after buying an additional 4,300,222 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of SLB by 211.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock worth $250,507,000 after buying an additional 4,066,500 shares during the last quarter. Nuveen LLC acquired a new position in shares of SLB during the first quarter worth $169,232,000. Finally, Banque Transatlantique SA lifted its stake in shares of SLB by 21,737.8% in the 1st quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock valued at $71,821,000 after acquiring an additional 1,850,760 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group restated a “buy” rating and set a $44.00 price objective on shares of SLB in a research report on Tuesday, October 21st. Stifel Nicolaus reduced their price target on SLB from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Melius Research initiated 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Three 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.28.

SLB Price Performance

SLB stock opened at $36.40 on Friday. The stock’s 50 day moving average is $34.95 and its 200 day moving average is $34.67. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The firm has a market cap of $54.38 billion, a P/E ratio of 14.05, a P/E/G ratio of 10.19 and a beta of 0.97. SLB Limited has a one year low of $31.11 and a one 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, beating analysts’ consensus estimates of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The business had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be issued a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a yield of 3.1%. SLB’s payout ratio is presently 44.02%.

Insider Buying and Selling

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction 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 sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.

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.