Van Strum & Towne Inc. Sells 37,311 Shares of SLB Limited $SLB

Van Strum & Towne Inc. lessened its stake in shares of SLB Limited (NYSE:SLB) by 85.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,361 shares of the oil and gas company’s stock after selling 37,311 shares during the period. Van Strum & Towne Inc.’s holdings in SLB were worth $327,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Fearnley Asset Management AS bought a new stake in shares of SLB in the 4th quarter worth approximately $8,574,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in SLB by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock valued at $126,303,000 after purchasing an additional 128,660 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in SLB during the first quarter valued at $47,528,000. Cibc World Market Inc. increased its position in SLB by 48.7% in the fourth quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock worth $52,468,000 after buying an additional 447,667 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in SLB by 65.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock worth $7,898,000 after buying an additional 81,045 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the sale, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SLB. Evercore reiterated an “outperform” rating and set a $64.00 price target on shares of SLB in a research note on Monday, April 27th. Stifel Nicolaus boosted their price objective on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. TD Cowen dropped their price objective on shares of SLB from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Barclays cut their target price on shares of SLB from $66.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Citigroup reduced their target price on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, SLB has an average rating of “Moderate Buy” and an average target price of $60.30.

SLB Price Performance

Shares of SLB stock opened at $47.01 on Monday. 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 firm has a market capitalization of $70.29 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.89 and a beta of 0.72. The business’s 50-day moving average price is $51.90 and its 200-day moving average price is $50.31. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82.

SLB (NYSE:SLB) last issued its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. Sell-side analysts forecast that SLB Limited will post 2.53 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd were issued a $0.295 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.5%. SLB’s dividend payout ratio (DPR) is 51.53%.

About SLB

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.