J.M. Arbour LLC Acquires New Stake in SLB Limited $SLB

J.M. Arbour LLC acquired a new stake in SLB Limited (NYSE:SLB) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 20,484 shares of the oil and gas company’s stock, valued at approximately $786,000.

A number of other large investors have also recently made changes to their positions in SLB. Vanguard Group Inc. increased its stake in SLB by 23.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock worth $6,371,335,000 after buying an additional 35,057,313 shares during the period. State Street Corp boosted its position in SLB by 7.0% in the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after buying an additional 5,466,786 shares during the period. Greenhaven Associates Inc. purchased a new stake in SLB in the 4th quarter valued at about $178,883,000. Caisse de depot et placement du Quebec grew its stake in SLB by 10,422.1% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 3,165,581 shares of the oil and gas company’s stock worth $108,801,000 after acquiring an additional 3,135,496 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of SLB by 25.2% during the third quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock worth $528,217,000 after acquiring an additional 3,094,764 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Stock Performance

Shares of NYSE:SLB opened at $51.72 on Friday. The firm has a 50 day moving average of $49.89 and a 200 day moving average of $42.86. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $77.70 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 3.60 and a beta of 0.69. SLB Limited has a 52 week low of $31.64 and a 52 week high of $54.80.

SLB (NYSE:SLB) last announced its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter last year, the firm earned $0.92 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts predict that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. SLB’s dividend payout ratio is 49.79%.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 4,000 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.29, for a total value of $201,160.00. Following the sale, the director directly owned 19,525 shares in the company, valued at approximately $981,912.25. This trade represents a 17.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Howard Guild sold 13,268 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $659,419.60. Following the transaction, the chief accounting officer owned 22,407 shares of the company’s stock, valued at approximately $1,113,627.90. This trade represents a 37.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 156,902 shares of company stock valued at $7,796,666 over the last three months. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research reports. Piper Sandler boosted their price target on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday. Freedom Capital lowered SLB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Sanford C. Bernstein increased their price target on SLB from $52.30 to $56.10 and gave the stock an “outperform” rating in a research report on Thursday, March 12th. Susquehanna raised their price target on SLB from $56.00 to $60.00 and gave the company a “positive” rating in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. lifted their price objective on SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Three investment 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.27.

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.