SLB Limited (NYSE:SLB – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $57.35 and last traded at $57.2090, with a volume of 2452950 shares traded. The stock had previously closed at $55.38.
Wall Street Analyst Weigh In
A number of research firms have weighed in on SLB. Sanford C. Bernstein upped their price target on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Evercore restated an “outperform” rating and issued a $64.00 price target on shares of SLB in a report on Monday, April 27th. The Goldman Sachs Group lifted their price objective on shares of SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Bank of America lifted their price objective on shares of SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Loop Capital set a $48.00 price objective on SLB in a report on Tuesday, January 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.74.
Get Our Latest Analysis on SLB
SLB Stock Performance
SLB (NYSE:SLB – Get Free Report) last issued its quarterly earnings results 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 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%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share. Analysts expect that SLB Limited will post 2.61 earnings per share for the current year.
SLB Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.
Insider Activity at SLB
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 shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the sale, the executive vice president directly owned 47,421 shares in the company, valued at $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 available through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s 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 sale, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by insiders.
Institutional Investors Weigh In On SLB
Large investors have recently added to or reduced their stakes in the company. Evergreen Advisors LLC acquired a new stake in SLB during the 1st quarter valued at $26,000. Costello Asset Management INC grew its holdings in SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 280 shares in the last quarter. MV Capital Management Inc. acquired a new stake in SLB during the 4th quarter valued at $28,000. Sound Income Strategies LLC raised its holdings in 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 in the last quarter. Finally, Steph & Co. raised its holdings in SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 394 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.
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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