SLB Limited $SLB Stake Boosted by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in shares of SLB Limited (NYSE:SLB) by 18.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,301,506 shares of the oil and gas company’s stock after purchasing an additional 204,581 shares during the quarter. SG Americas Securities LLC’s holdings in SLB were worth $66,884,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLB. Brighton Jones LLC increased its position in shares of SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after acquiring an additional 1,166 shares in the last quarter. Bison Wealth LLC acquired a new position in SLB in the 4th quarter worth approximately $238,000. Marshall Wace LLP acquired a new position in SLB in the 2nd quarter worth approximately $8,628,000. Nebula Research & Development LLC grew its position in SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock worth $824,000 after purchasing an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its position in SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock worth $373,000 after purchasing an additional 799 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Down 0.3%

SLB stock opened at $47.95 on Tuesday. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a market cap of $71.69 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.93 and a beta of 0.70. The company has a 50 day moving average of $54.60 and a two-hundred day moving average of $49.19.

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

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. SLB’s dividend payout ratio (DPR) is presently 51.53%.

Wall Street Analyst Weigh In

SLB has been the subject of a number of research analyst reports. Piper Sandler increased their target price on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Royal Bank Of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of SLB in a report on Tuesday, June 16th. UBS Group upped their price target on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Barclays raised their price objective on SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.83.

Insider Transactions at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s 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 directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $108,660.00. Following the sale, the director owned 16,953 shares of the company’s stock, 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. Insiders own 0.16% of the company’s stock.

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.