SIR Capital Management L.P. bought a new position in SLB Limited (NYSE:SLB – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 269,800 shares of the oil and gas company’s stock, valued at approximately $10,355,000.
Other institutional investors have also made changes to their positions in the company. Strategic Wealth Advisors LLC purchased a new position in shares of SLB in the fourth quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of SLB in the fourth quarter worth approximately $31,000. Steph & Co. increased its position in shares of SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 394 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new position in shares of SLB in the fourth quarter worth approximately $31,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of SLB by 37.0% in the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 227 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.
SLB Stock Performance
Shares of SLB opened at $56.03 on Friday. The company’s 50 day moving average price is $54.64 and its 200 day moving average price is $48.51. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a market capitalization of $83.76 billion, a PE ratio of 24.47, a PEG ratio of 2.27 and a beta of 0.70. 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 Dividend Announcement
The business 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 2.1%. SLB’s payout ratio is presently 51.53%.
Wall Street Analysts Forecast Growth
SLB has been the topic of several analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of SLB in a research report on Monday, April 27th. Weiss Ratings downgraded shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Citigroup lifted their target price on shares of SLB from $59.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Barclays lifted their target price on shares of SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, Stifel Nicolaus boosted their price objective on shares of SLB from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.
Insider Buying and Selling
In related news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, the director directly owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.
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