Cibc World Market Inc. Raises Holdings in SLB Limited $SLB

Cibc World Market Inc. raised its position in SLB Limited (NYSE:SLB) by 48.7% during the fourth quarter, HoldingsChannel reports. The firm owned 1,367,063 shares of the oil and gas company’s stock after purchasing an additional 447,667 shares during the period. Cibc World Market Inc.’s holdings in SLB were worth $52,468,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Wealth Advisors LLC purchased a new stake in shares of SLB during the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of SLB in the fourth quarter worth about $31,000. Steph & Co. boosted its position in 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. Lloyd Advisory Services LLC. acquired a new position in SLB during the fourth quarter worth about $31,000. Finally, Bruce G. Allen Investments LLC grew its stake in SLB by 37.0% during the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 227 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Performance

SLB stock opened at $58.10 on Friday. The firm has a 50 day simple moving average of $54.16 and a 200-day simple moving average of $47.75. The stock has a market cap of $86.86 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 2.30 and a beta of 0.70. 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 1-year low of $31.64 and a 1-year high of $58.82.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. On average, analysts expect that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s dividend payout ratio is 51.53%.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction 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 in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SLB shares. Stifel Nicolaus raised their target price on shares of SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Weiss Ratings cut SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Susquehanna lifted their price objective on SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a research report on Monday, April 27th. Piper Sandler boosted their price objective on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen cut SLB from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.67.

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.