Sanctuary Advisors LLC Purchases 226,031 Shares of SLB Limited $SLB

Sanctuary Advisors LLC raised its position in SLB Limited (NYSE:SLB) by 89.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 478,183 shares of the oil and gas company’s stock after purchasing an additional 226,031 shares during the quarter. Sanctuary Advisors LLC’s holdings in SLB were worth $24,574,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Costello Asset Management INC grew its stake 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. MV Capital Management Inc. bought a new stake in shares of SLB during the 4th quarter worth approximately $28,000. Sound Income Strategies LLC lifted its stake in shares of SLB by 71.1% during the 1st quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 324 shares during the last quarter. Steph & Co. boosted its holdings in SLB by 97.5% during the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 394 shares during the period. Finally, Strategic Wealth Advisors LLC purchased a new position in SLB during the 4th quarter valued at $30,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SLB shares. TD Cowen reduced their target price on SLB from $66.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Raymond James Financial lowered their target price on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Evercore restated an “outperform” rating and issued a $64.00 price target on shares of SLB in a report on Monday, April 27th. Wolfe Research started coverage on shares of SLB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price target on the stock. Finally, Weiss Ratings lowered shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.65.

Key Headlines Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: The Liberty Energy partnership opens a potential new revenue stream for SLB in AI data center infrastructure and power, expanding the company beyond traditional oilfield services. SLB partners with Liberty Energy to supply modular parts, power to data centers
• Positive Sentiment: SLB said it has already shipped more than 1.3 gigawatts of data center infrastructure since April 2024, with cumulative deliveries expected to exceed 2 gigawatts by the end of 2026, suggesting growing traction in this business line. SLB, Liberty Energy to Form Strategic Alliance for Data Center Infrastructure and Power
• Neutral Sentiment: Recent commentary says SLB still looks undervalued on some fair-value and discounted cash flow measures, which may support the stock, but that view depends on execution and investor confidence in the new data-center strategy. SLB (SLB) Stock Still Trades At A Discount To Fair Value
• Neutral Sentiment: SLB also won a Baleine Phase 3 EPC contract, which adds to subsea backlog and reinforces offshore growth, but this is more of a steady operational win than a major near-term catalyst. SLB Wins Multi-Well EPC Contract for the Baleine Phase 3 Development

SLB Stock Up 0.1%

Shares of NYSE:SLB opened at $47.56 on Thursday. The business’s 50 day moving average is $52.14 and its 200 day moving average is $50.18. The stock has a market cap of $71.11 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 1.93 and a beta of 0.72. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB) last issued its 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. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. During the same period in the previous year, the company posted $0.72 EPS. SLB’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that SLB Limited will post 2.58 EPS for the current year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd were issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, June 3rd. SLB’s payout ratio is presently 51.53%.

Insider Activity

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

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.