ClearAlpha Technologies LP lowered its stake in shares of SLB Limited (NYSE:SLB – Free Report) by 60.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,037 shares of the oil and gas company’s stock after selling 18,720 shares during the quarter. SLB makes up 1.3% of ClearAlpha Technologies LP’s holdings, making the stock its 24th biggest position. ClearAlpha Technologies LP’s holdings in SLB were worth $462,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of SLB. Norges Bank bought a new position in shares of SLB during the 4th quarter valued at approximately $809,557,000. Bank of New York Mellon Corp boosted its holdings in SLB by 64.4% during the 4th quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company’s stock valued at $602,444,000 after acquiring an additional 6,149,511 shares during the period. State Street Corp boosted its holdings in SLB by 7.0% during 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 acquiring an additional 5,466,786 shares during the period. Capital International Investors boosted its holdings in SLB by 86.9% during the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock valued at $446,247,000 after acquiring an additional 5,404,948 shares during the period. Finally, Greenhaven Associates Inc. purchased a new position in SLB during the 4th quarter valued at $178,883,000. Institutional investors own 81.99% of the company’s stock.
SLB Price Performance
Shares of SLB stock opened at $50.30 on Thursday. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The stock has a market capitalization of $75.20 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 2.15 and a beta of 0.70. The stock has a fifty day simple moving average of $54.81 and a two-hundred day simple moving average of $48.95. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.
SLB Announces Dividend
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 paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is 51.53%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Jefferies Financial Group restated a “buy” rating and set a $65.00 price objective on shares of SLB in a report on Sunday, April 26th. Wall Street Zen cut SLB from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Royal Bank Of Canada restated an “outperform” rating and set a $61.00 price objective on shares of SLB in a report on Tuesday. BMO Capital Markets boosted their price objective on SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Finally, UBS Group boosted their price objective on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Three investment 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.67.
View Our Latest Stock Analysis on SLB
Insiders Place Their Bets
In related news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the sale, the director directly owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the sale, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.16% of the company’s stock.
Key SLB News
Here are the key news stories impacting SLB this week:
- Positive Sentiment: SLB said it aims to double digital business revenue to as much as $2 billion by 2030, highlighting a longer-term growth avenue beyond its core oilfield services business. SLB aims to double digital business revenue up to $2B by 2030
- Positive Sentiment: Management also outlined plans for an additional $10 billion in annual digital spending by 2030, reinforcing expectations that SLB’s software and digital offerings could become a more meaningful profit driver. SLB expects additional $10 billion in annual digital spending by 2030
- Positive Sentiment: SLB expanded its AI push with the launch of a digital marketplace, signaling continued investment in higher-margin technology-driven services. SLB expands AI strategy with launch of digital marketplace
- Neutral Sentiment: SLB’s analyst/investor day and CEO Olivier Le Peuch’s appearance with Jim Cramer are adding visibility and could shape sentiment, but these items are mainly informational unless new financial guidance emerges. SLB CEO Olivier Le Peuch goes one-on-one with Jim Cramer SLB N.V. (SLB) Analyst/Investor Day Transcript
- Neutral Sentiment: SLB is also trending on investor-watch lists and in market commentary, which may be adding short-term trading interest rather than changing the fundamental outlook. Jim Cramer Points to SLB for Critical Insights Into International Oil Production Here is What to Know Beyond Why SLB Limited (SLB) is a Trending Stock
- Negative Sentiment: Despite the positive strategic narrative, the stock has been trading lower recently, suggesting investors may still be weighing execution risk and broader sentiment toward energy services.
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.
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