IFM Investors Pty Ltd cut its position in SLB Limited (NYSE:SLB – Free Report) by 7.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 346,004 shares of the oil and gas company’s stock after selling 27,504 shares during the period. IFM Investors Pty Ltd’s holdings in SLB were worth $17,781,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of SLB. Private Wealth Asset Management LLC lifted its holdings in shares of SLB by 4.1% during the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after purchasing an additional 200 shares during the period. Capital Advisors Ltd. LLC increased its holdings in SLB by 9.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after buying an additional 214 shares during the period. Ballentine Partners LLC raised its position in SLB by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after buying an additional 218 shares during the last quarter. Davis Capital Management raised its position in SLB by 1.0% during the 1st quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock worth $1,129,000 after buying an additional 220 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its stake in SLB by 37.0% during the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 227 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have recently commented on SLB. Barclays upped their price objective on shares of SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Susquehanna raised their target price on shares of SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a report on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of SLB in a report on Sunday, April 26th. Stifel Nicolaus increased their price target on SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Finally, UBS Group increased their price target on SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.83.
Key SLB News
Here are the key news stories impacting SLB this week:
- Positive Sentiment: SLB won a seven-year contract from Kuwait Oil Company under the Ahmadi Innovation Valley initiative, supporting applied research, technology deployment, and digital innovation. This could strengthen long-term revenue visibility and highlights demand for SLB’s energy technology offerings. SLB Awarded Seven-Year Contract Under Kuwait Oil Company’s Ahmadi Innovation Valley Initiative
- Positive Sentiment: SLB is also expanding its footprint in Louisiana, with Industrial Realty Group saying the company will occupy more space at its Shreveport campus. While this is not as material as the Kuwait deal, it suggests continued operational expansion and ongoing investment in capacity. IRG Expands Long-Term Lease with SLB in Shreveport, LA, 3.5 Million Sq. Ft. Former GM Facility Now Fully Leased
- Positive Sentiment: Several commentary pieces argue that SLB may be oversold after a sharp recent pullback, and that improving analyst earnings estimates could support a rebound. This may help explain why some investors are starting to view the weakness as a potential buying opportunity. Down 15.3% in 4 Weeks, Here’s Why You Should You Buy the Dip in SLB (SLB)
- Neutral Sentiment: Market-watchers also compared SLB with Enpro (NPO) as a value stock. This is more of a valuation discussion than a direct business catalyst, so it is likely limited in near-term stock impact. SLB vs. NPO: Which Stock Is the Better Value Option?
- Negative Sentiment: Despite the positive contract news, SLB has been trading lower over the past several weeks, reflecting recent selling pressure and concern about near-term momentum. That weakness may be capping enthusiasm even as investors wait to see whether new contract wins translate into stronger earnings. SLB (SLB) Stock Sinks As Market Gains: Here’s Why
SLB Trading Up 0.1%
SLB stock opened at $46.44 on Wednesday. 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 Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The stock’s 50 day simple moving average is $53.99 and its two-hundred day simple moving average is $49.56. The firm has a market cap of $69.44 billion, a PE ratio of 20.28, a P/E/G ratio of 1.86 and a beta of 0.70.
SLB (NYSE:SLB – Get Free Report) last issued its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. Analysts anticipate that SLB Limited will post 2.62 earnings per share for the current year.
SLB Dividend Announcement
The company also recently declared 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. 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 currently 51.53%.
Insider Buying and Selling at SLB
In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, the director 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 disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by company 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.
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