J. Safra Sarasin Holding AG Buys 31,166 Shares of SLB Limited $SLB

J. Safra Sarasin Holding AG grew its stake in SLB Limited (NYSE:SLB) by 203.9% during the first quarter, HoldingsChannel reports. The fund owned 46,452 shares of the oil and gas company’s stock after acquiring an additional 31,166 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in SLB were worth $2,387,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SLB. MV Capital Management Inc. bought a new stake in SLB during the fourth quarter valued at about $28,000. Strategic Wealth Advisors LLC bought a new position in SLB in the fourth quarter worth about $30,000. Costello Asset Management INC lifted its position in shares of SLB by 93.3% during the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 280 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of SLB during the fourth quarter valued at about $31,000. Finally, Steph & Co. boosted its holdings in shares of SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 394 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SLB shares. Stifel Nicolaus lifted their price objective on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Susquehanna lowered their target price on shares of SLB from $65.00 to $55.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. JPMorgan Chase & Co. upped their price target on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Citigroup lowered their price objective on SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Finally, Raymond James Financial dropped their target price on SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.80.

Insider Buying and Selling

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction that occurred on 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 directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction 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 trade represents a 10.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.16% of the company’s stock.

SLB Stock Down 0.8%

SLB stock opened at $47.38 on Tuesday. 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 business’s 50-day simple moving average is $52.46 and its two-hundred day simple moving average is $50.05. The company has a market cap of $70.83 billion, a PE ratio of 20.69, a PEG ratio of 1.94 and a beta of 0.72. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same period last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts anticipate that SLB Limited will post 2.59 EPS for the current year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. SLB’s dividend payout ratio (DPR) is currently 51.53%.

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.