Oak Associates Ltd. OH purchased a new stake in SLB Limited (NYSE:SLB – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 116,194 shares of the oil and gas company’s stock, valued at approximately $5,971,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in shares of SLB by 32.3% in the first quarter. Sei Investments Co. now owns 997,212 shares of the oil and gas company’s stock valued at $51,248,000 after purchasing an additional 243,432 shares in the last quarter. Monograph Wealth Advisors LLC purchased a new position in shares of SLB during the first quarter valued at $807,000. Cetera Investment Advisers grew its holdings in shares of SLB by 45.8% during the first quarter. Cetera Investment Advisers now owns 573,290 shares of the oil and gas company’s stock valued at $29,461,000 after buying an additional 180,216 shares in the last quarter. Impala Asset Management LLC acquired a new position in SLB during the first quarter valued at $8,083,000. Finally, CI Investments Inc. lifted its stake in SLB by 13,765.0% in the 1st quarter. CI Investments Inc. now owns 898,174 shares of the oil and gas company’s stock worth $46,157,000 after acquiring an additional 891,696 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.
SLB Stock Performance
Shares of NYSE SLB opened at $47.25 on Friday. The business’s 50-day moving average price is $51.22 and its two-hundred day moving average price is $50.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The company has a market capitalization of $70.65 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.93 and a beta of 0.72.
Insider Activity at SLB
In related 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 value of $108,660.00. Following the transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $2,998,832.22. Following the transaction, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Evercore restated an “outperform” rating and set a $64.00 price objective on shares of SLB in a research report on Monday, April 27th. BMO Capital Markets increased their price target on shares of SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Jefferies Financial Group restated a “buy” rating and set a $65.00 price target on shares of SLB in a report on Sunday, April 26th. Raymond James Financial lowered their price objective on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of SLB in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.30.
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.
Read More
- Five stocks we like better than SLB
- Premium Retail’s Stress Test Is Separating Winners From Losers
- D-Wave Quantum or a Quantum ETF: Which Is the Better Bet?
- GE Vernova Just Sent a Mixed AI Signal to Investors
- Alphabet Crushed Earnings, But One Number Spooked the Market
Receive News & Ratings for SLB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SLB and related companies with MarketBeat.com's FREE daily email newsletter.
