Carmignac Gestion Sells 3,723,264 Shares of SLB Limited $SLB

Carmignac Gestion lessened its position in shares of SLB Limited (NYSE:SLB) by 79.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 946,192 shares of the oil and gas company’s stock after selling 3,723,264 shares during the quarter. Carmignac Gestion’s holdings in SLB were worth $48,625,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SLB. Fearnley Asset Management AS bought a new position in shares of SLB in the 4th quarter worth approximately $8,574,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of SLB in the first quarter worth approximately $47,528,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position 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 buying an additional 128,660 shares during the period. Cibc World Market Inc. grew its position in SLB by 48.7% during the fourth quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock valued at $52,468,000 after buying an additional 447,667 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in SLB by 65.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock valued at $7,898,000 after buying an additional 81,045 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Stock Down 0.0%

Shares of NYSE:SLB opened at $49.58 on Monday. The company has a market cap of $73.59 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 3.27 and a beta of 0.73. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $50.43 and a 200 day moving average price of $50.80.

SLB (NYSE:SLB) last issued its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts predict that SLB Limited will post 2.5 earnings per share for the current year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be given a $0.295 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.4%. SLB’s dividend payout ratio (DPR) is currently 57.00%.

Wall Street Analyst Weigh In

SLB has been the topic of several recent research reports. Evercore reiterated an “outperform” rating and issued a $66.00 price target on shares of SLB in a research report on Monday, July 27th. Raymond James Financial cut their price objective on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Morgan Stanley upped their price objective on SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Citigroup lowered their target price on SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $66.00 price target on shares of SLB in a report on Sunday, July 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.35.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. The trade was a 10.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

SLB 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.