QRG Capital Management Inc. boosted its stake in shares of SLB Limited (NYSE:SLB – Free Report) by 707.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 115,079 shares of the oil and gas company’s stock after acquiring an additional 100,834 shares during the period. QRG Capital Management Inc.’s holdings in SLB were worth $5,914,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. MV Capital Management Inc. purchased a new position in shares of SLB in the 4th quarter valued at about $28,000. Strategic Wealth Advisors LLC acquired a new stake in SLB in the fourth quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in SLB in the fourth quarter valued at approximately $31,000. Steph & Co. lifted its stake in 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 during the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new position in SLB during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 81.99% of the company’s stock.
SLB Stock Down 0.1%
Shares of NYSE:SLB opened at $45.09 on Monday. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm’s 50-day simple moving average is $53.51 and its 200-day simple moving average is $49.67. The company has a market cap of $67.42 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.82 and a beta of 0.72.
SLB Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.6%. SLB’s payout ratio is presently 51.53%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on SLB shares. Sanford C. Bernstein raised their price objective on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Weiss Ratings downgraded shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Stifel Nicolaus boosted their target price on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of SLB in a report on Tuesday, June 16th. Finally, Piper Sandler raised their price target on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Two 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.17.
Read Our Latest Research Report on SLB
Insider Activity
In related news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’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 completion of the transaction, the executive vice president directly owned 47,421 shares of the company’s stock, valued at approximately $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. 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.
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