KBC Group NV increased its stake in shares of SLB Limited (NYSE:SLB – Free Report) by 194.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,317 shares of the oil and gas company’s stock after acquiring an additional 253,117 shares during the quarter. KBC Group NV’s holdings in SLB were worth $19,699,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Evergreen Advisors LLC purchased a new position in SLB during the 1st quarter worth approximately $26,000. Costello Asset Management INC lifted its stake in SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 280 shares during the last quarter. MV Capital Management Inc. purchased a new stake in SLB in the fourth quarter valued at approximately $28,000. Sound Income Strategies LLC boosted its holdings in shares of SLB by 71.1% in the first quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 324 shares during the period. Finally, Steph & Co. grew its position in shares of SLB by 97.5% during 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. Institutional investors and hedge funds own 81.99% of the company’s stock.
Insider Transactions at SLB
In other news, Director La Chevardiere Patrick De sold 2,000 shares of the 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 of the company’s stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm’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 value of $2,998,832.22. Following the completion of the sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This 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 company insiders.
SLB Stock Performance
SLB (NYSE:SLB – Get Free Report) last announced 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 company had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. SLB’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, sell-side analysts expect that SLB Limited will post 2.53 EPS for the current year.
SLB Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd were given a $0.295 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. SLB’s dividend payout ratio (DPR) is presently 51.53%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on SLB. UBS Group cut their target price on shares of SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Wolfe Research started coverage on shares of SLB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price objective on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of SLB in a report on Sunday, April 26th. Barclays decreased their target price on shares of SLB from $66.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 price target on shares of SLB in a report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.30.
Check Out Our Latest Research Report on SLB
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.
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