Storgate LLC Makes New Investment in SLB Limited $SLB

Storgate LLC bought a new position in shares of SLB Limited (NYSE:SLB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,956 shares of the oil and gas company’s stock, valued at approximately $612,000.

Several other large investors also recently bought and sold shares of SLB. Brighton Jones LLC grew its position in SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC purchased a new stake in SLB during the 4th quarter worth approximately $238,000. Marshall Wace LLP purchased a new stake in SLB during the 2nd quarter worth approximately $8,628,000. Nebula Research & Development LLC grew its position in SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock worth $824,000 after purchasing an additional 10,522 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its position in SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock worth $373,000 after purchasing an additional 799 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

NYSE:SLB opened at $56.03 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The company has a fifty day moving average of $54.64 and a two-hundred day moving average of $48.51. The stock has a market capitalization of $83.76 billion, a PE ratio of 24.47, a P/E/G ratio of 2.27 and a beta of 0.70. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company 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 firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. As a group, research analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. SLB’s dividend payout ratio is currently 51.53%.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the sale, the director directly owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction dated 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 owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SLB. Evercore reissued an “outperform” rating and set a $64.00 target price on shares of SLB in a research report on Monday, April 27th. Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 target price on shares of SLB in a research report on Monday, April 27th. Wall Street Zen downgraded shares of SLB from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. TD Cowen upped their price objective on shares of SLB from $55.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and an average price target of $60.67.

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.