Pacer Advisors Inc. Has $224.61 Million Stock Position in SLB Limited $SLB

Pacer Advisors Inc. lowered its position in shares of SLB Limited (NYSE:SLB) by 32.8% in the fourth quarter, HoldingsChannel reports. The fund owned 5,852,247 shares of the oil and gas company’s stock after selling 2,860,270 shares during the period. Pacer Advisors Inc.’s holdings in SLB were worth $224,609,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Wealth Asset Management LLC raised its position in shares of SLB by 4.1% during the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after acquiring an additional 200 shares during the last quarter. Ballentine Partners LLC raised its holdings in SLB by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after buying an additional 218 shares during the period. Bruce G. Allen Investments LLC raised its holdings in shares of SLB by 37.0% during the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 227 shares during the period. Minot DeBlois Advisors LLC raised its stake in shares of SLB by 1.5% in the 4th quarter. Minot DeBlois Advisors LLC now owns 15,298 shares of the oil and gas company’s stock valued at $587,000 after purchasing an additional 231 shares during the period. Finally, Rothschild Investment LLC raised its position in SLB by 4.4% in the 4th quarter. Rothschild Investment LLC now owns 5,540 shares of the oil and gas company’s stock valued at $213,000 after buying an additional 236 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

SLB Stock Down 4.4%

SLB stock opened at $48.12 on Friday. The firm has a 50-day moving average price of $54.77 and a 200-day moving average price of $49.03. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $71.95 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 2.04 and a beta of 0.70.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (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 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. As a group, equities research analysts anticipate that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors 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 2.5%. SLB’s payout ratio is currently 51.53%.

SLB News Summary

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB launched a new Digital Marketplace for AI tools and applications, expanding its digital ecosystem and reinforcing its software growth strategy. SLB Expands Digital Reach With New AI Marketplace Platform
• Positive Sentiment: Management signaled a long-term push to double digital business revenue and core profit by 2030, with reports also highlighting up to $2 billion in digital revenue and $10 billion in annual digital spending opportunities. SLB aims to double digital business revenue up to $2B by 2030
• Positive Sentiment: Traders showed strong bullish positioning, with unusual options activity skewing toward calls and volume running well above normal.
• Neutral Sentiment: SLB received added visibility after CEO Olivier Le Peuch appeared on CNBC with Jim Cramer and the company’s investor-day commentary continued to circulate among investors. SLB CEO Olivier Le Peuch goes one-on-one with Jim Cramer
• Neutral Sentiment: Market interest also picked up after reports noted SLB and Nvidia’s long-running partnership and the company became a trending stock on Zacks, which may be amplifying trading volume. Nvidia’s Next Huge Bet: Drill, Baby, Drill!

Insider Activity

In related 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $2,998,832.22. Following the completion of the sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley set a $57.00 price target on shares of SLB in a research note on Monday, April 27th. Citigroup increased their price target on SLB from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Stifel Nicolaus increased their price target on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets increased their price objective on SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Finally, Sanford C. Bernstein lifted their price target on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Three research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.83.

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.