Mizuho Markets Cayman LP reduced its position in SLB Limited (NYSE:SLB – Free Report) by 52.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,173 shares of the oil and gas company’s stock after selling 14,283 shares during the quarter. Mizuho Markets Cayman LP’s holdings in SLB were worth $677,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fearnley Asset Management AS acquired a new stake in shares of SLB in the fourth quarter valued at approximately $8,574,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in SLB by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock valued at $126,303,000 after buying an additional 128,660 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of SLB in the 1st quarter worth $47,528,000. Cibc World Market Inc. raised its holdings in shares of SLB by 48.7% during the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock worth $52,468,000 after acquiring an additional 447,667 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its position in shares of SLB by 65.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock valued at $7,898,000 after acquiring an additional 81,045 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.
Insider Buying and Selling
In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction that occurred 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. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $108,660.00. Following the transaction, the director owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company’s stock.
SLB Trading Up 2.4%
SLB (NYSE:SLB – Get Free Report) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion during 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 for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business earned $0.72 earnings per share. On average, sell-side analysts anticipate that SLB Limited will post 2.52 earnings per share for the current year.
Wall Street Analyst Weigh In
SLB has been the topic of a number of analyst reports. Piper Sandler lifted their target price on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. TD Cowen dropped their price target on shares of SLB from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. UBS Group cut their price target on shares of SLB from $69.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $54.00 price target on shares of SLB in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upped their price objective on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SLB has an average rating of “Moderate Buy” and an average target price of $60.30.
Get Our Latest Analysis 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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