XXEC Inc. Sells 17,755 Shares of SLB Limited $SLB

XXEC Inc. lessened its holdings in shares of SLB Limited (NYSE:SLB) by 11.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 134,265 shares of the oil and gas company’s stock after selling 17,755 shares during the period. SLB accounts for about 5.0% of XXEC Inc.’s portfolio, making the stock its 9th largest position. XXEC Inc.’s holdings in SLB were worth $5,153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLB. MV Capital Management Inc. bought a new stake in SLB during the 4th quarter worth about $28,000. Strategic Wealth Advisors LLC bought a new position in shares of SLB in the fourth quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SLB in the fourth quarter worth about $31,000. Steph & Co. lifted its position in shares of SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 394 shares in the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of SLB during the fourth quarter worth approximately $31,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Up 0.1%

Shares of NYSE:SLB opened at $48.12 on Friday. The company has a 50 day moving average price of $54.69 and a two-hundred day moving average price of $49.02. The company has a market capitalization of $71.95 billion, a PE ratio of 21.01, a PEG ratio of 1.95 and a beta of 0.70. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.76 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts forecast that SLB Limited will post 2.62 earnings per share for the current year.

SLB Dividend Announcement

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

Wall Street Analyst Weigh In

SLB has been the subject of a number of research reports. TD Cowen raised their price target on shares of SLB from $55.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 27th. Piper Sandler upped their price objective on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Evercore reissued an “outperform” rating and issued a $64.00 target price on shares of SLB in a research note on Monday, April 27th. Sanford C. Bernstein boosted their target price on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $65.00 price target on shares of SLB in a research note on Sunday, April 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, SLB has an average rating of “Moderate Buy” and a consensus price target of $60.83.

Insider Buying and Selling at SLB

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following 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 legal filing with the SEC, which is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was 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 of the company’s stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by corporate insiders.

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.