Lombard Odier Asset Management USA Corp Acquires 21,000 Shares of SLB Limited $SLB

Lombard Odier Asset Management USA Corp increased its holdings in shares of SLB Limited (NYSE:SLB) by 80.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,000 shares of the oil and gas company’s stock after acquiring an additional 21,000 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in SLB were worth $1,804,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Strategic Wealth Advisors LLC bought a new stake in SLB during the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in SLB during the 4th quarter worth approximately $31,000. Steph & Co. grew its position in SLB by 97.5% during the 4th 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 4th quarter worth $31,000. Finally, Bruce G. Allen Investments LLC boosted its position in SLB by 37.0% in 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 buying an additional 227 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SLB has been the topic of a number of recent research reports. The Goldman Sachs Group increased their price objective on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Evercore reiterated an “outperform” rating and issued a $64.00 price objective on shares of SLB in a research report on Monday, April 27th. BMO Capital Markets increased their price objective on SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. increased their price objective on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price objective on shares of SLB in a research report on Sunday, April 26th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

Insiders Place Their Bets

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction on 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 transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction 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 sale, the director directly owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.16% of the company’s stock.

SLB Stock Performance

SLB stock opened at $53.06 on Wednesday. The business’s fifty day moving average is $54.80 and its 200-day moving average is $48.84. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a market cap of $79.33 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 2.18 and a beta of 0.70. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 EPS. Equities research analysts forecast that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. SLB’s dividend payout ratio is 51.53%.

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.