Socorro Asset Management LP cut its holdings in SLB Limited (NYSE:SLB – Free Report) by 16.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146,717 shares of the oil and gas company’s stock after selling 28,559 shares during the quarter. SLB makes up about 3.4% of Socorro Asset Management LP’s investment portfolio, making the stock its 12th largest position. Socorro Asset Management LP’s holdings in SLB were worth $7,540,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in SLB. Abel Hall LLC lifted its stake in shares of SLB by 2.7% during the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after purchasing an additional 198 shares during the last quarter. Private Wealth Asset Management LLC raised its holdings in SLB by 4.1% in the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after purchasing an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in SLB by 9.3% in the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 214 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after buying an additional 218 shares during the last quarter. Finally, Davis Capital Management grew its position in shares of SLB by 1.0% in the 1st quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock worth $1,129,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.
SLB Price Performance
NYSE SLB opened at $51.59 on Tuesday. The company has a market cap of $77.13 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 2.12 and a beta of 0.72. The stock’s fifty day moving average price is $51.05 and its 200 day moving average price is $50.66. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05.
SLB Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is 57.00%.
SLB News Roundup
Here are the key news stories impacting SLB this week:
- Positive Sentiment: Analysts raised targets: BMO Capital Markets increased its target from $59 to $63 and maintained an “outperform” rating, while Morgan Stanley raised its target from $54 to $55 and assigned an “overweight” rating. Analyst price-target updates
- Positive Sentiment: Q2 exceeded expectations: SLB reported adjusted earnings of $0.55 per share versus the $0.51 consensus estimate and revenue of $8.97 billion versus expectations of $8.67 billion. Sequentially, revenue rose 3% and adjusted EBITDA increased 7%, with margin expansion. SLB analysts increase forecasts
- Positive Sentiment: Longer-term growth catalysts are strengthening: RBC Capital Markets expects SLB’s growth drivers to converge in 2027 and beyond, led by a multiyear offshore cycle. Deepwater activity, digital demand, energy-security spending and a gradual Middle East recovery could support revenue, margins and cash flow. SLB growth drivers
- Positive Sentiment: Management’s outlook remains encouraging: Analysts highlighted guidance for fourth-quarter revenue above $10 billion and an adjusted EBITDA margin near 24%, supporting the view that a stronger 2027 may not yet be fully reflected in the valuation. SLB stronger 2027 outlook
- Neutral Sentiment: Investors are assessing international revenue trends, particularly the pace and durability of growth outside North America, for implications for Wall Street estimates. SLB international revenue trends
- Negative Sentiment: Near-term concerns remain: Second-quarter earnings declined from $0.74 per share a year earlier, and Middle East disruptions continue to weigh on operations. The anticipated recovery is gradual, leaving investors focused on execution and the timing of offshore and regional demand improvements. SLB Q2 earnings call
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Raymond James Financial decreased their target price on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Wolfe Research assumed coverage on SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price target on the stock. Piper Sandler increased their price objective on SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Monday. BMO Capital Markets raised their price objective on SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, TD Cowen boosted their target price on SLB from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and an average price target of $61.35.
Check Out Our Latest Stock Analysis on SLB
Insider Transactions at SLB
In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, the director owned 16,953 shares in the company, valued at $921,056.49. The trade was 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 corporate insiders.
About SLB
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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