Entropy Technologies LP Sells 98,578 Shares of SLB Limited $SLB

Entropy Technologies LP lowered its stake in SLB Limited (NYSE:SLB) by 36.7% in the 4th quarter, Holdings Channel reports. The firm owned 170,018 shares of the oil and gas company’s stock after selling 98,578 shares during the quarter. Entropy Technologies LP’s holdings in SLB were worth $6,525,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Private Wealth Asset Management LLC boosted its stake in SLB by 4.1% in the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after purchasing an additional 200 shares during the period. Ballentine Partners LLC boosted its stake in SLB by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after purchasing an additional 218 shares during the period. Bruce G. Allen Investments LLC boosted its stake in SLB by 37.0% in the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 227 shares during the period. Rothschild Investment LLC boosted its stake in SLB by 4.4% in the 4th quarter. Rothschild Investment LLC now owns 5,540 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 236 shares during the period. Finally, Foster Victor Wealth Advisors LLC boosted its stake in SLB by 3.0% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 8,281 shares of the oil and gas company’s stock worth $318,000 after purchasing an additional 238 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of several analyst reports. Barclays raised their target price on SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. UBS Group raised their target price on SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein raised their target price on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. lifted their price target on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Evercore reiterated an “outperform” rating and set a $64.00 price target on shares of SLB in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

SLB Stock Performance

Shares of SLB opened at $56.03 on Friday. The company has a market cap of $83.76 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 2.28 and a beta of 0.70. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $54.64 and a 200-day moving average price of $48.51. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. As a group, equities analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently declared 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. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is 51.53%.

Insider Transactions at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.16% of the company’s stock.

SLB Company Profile

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.