DJE Kapital AG Takes $11.69 Million Position in SLB Limited $SLB

DJE Kapital AG purchased a new position in SLB Limited (NYSE:SLB) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 221,866 shares of the oil and gas company’s stock, valued at approximately $11,686,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLB. Vanguard Group Inc. lifted its stake in SLB by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock worth $7,156,177,000 after purchasing an additional 1,080,999 shares in the last quarter. State Street Corp boosted its holdings in shares of SLB by 1.0% during the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock worth $3,263,998,000 after purchasing an additional 799,218 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of SLB by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock valued at $2,072,844,000 after purchasing an additional 1,458,650 shares in the last quarter. Morgan Stanley grew its position in shares of SLB by 1.3% in the fourth quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock valued at $1,423,716,000 after purchasing an additional 482,533 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of SLB by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock valued at $1,292,993,000 after purchasing an additional 510,747 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s 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 completion of the sale, the director directly owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’s 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 in the company, valued at approximately $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.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating and set a $54.00 price objective on shares of SLB in a research report on Wednesday, July 15th. Susquehanna dropped their target price on SLB from $65.00 to $55.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. TD Cowen cut their target price on SLB from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Piper Sandler raised their target price on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, Evercore reiterated an “outperform” rating and set a $64.00 price target on shares of SLB in a report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.30.

SLB Stock Down 1.2%

SLB stock opened at $46.41 on Tuesday. The firm has a market cap of $69.38 billion, a PE ratio of 20.27, a PEG ratio of 1.89 and a beta of 0.72. 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 firm’s 50 day moving average price is $51.72 and its 200-day moving average price is $50.37. SLB Limited has a one year low of $31.64 and a one year high of $58.82.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted $0.72 earnings per share. On average, equities research analysts anticipate that SLB Limited will post 2.53 EPS for the current year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. 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.