XXEC Inc. raised its stake in shares of SLB Limited (NYSE:SLB – Free Report) by 398.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 669,474 shares of the oil and gas company’s stock after buying an additional 535,209 shares during the quarter. SLB comprises 6.8% of XXEC Inc.’s portfolio, making the stock its 7th largest holding. XXEC Inc.’s holdings in SLB were worth $34,404,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of SLB. Private Wealth Asset Management LLC lifted its holdings in shares of SLB by 4.1% in the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after buying an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in SLB by 9.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock valued at $129,000 after acquiring an additional 214 shares in the last quarter. Ballentine Partners LLC grew its stake in SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after acquiring an additional 218 shares in the last quarter. Davis Capital Management increased its holdings in SLB by 1.0% during the 1st quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock worth $1,129,000 after acquiring an additional 220 shares during the period. Finally, Bruce G. Allen Investments LLC increased its holdings in SLB by 37.0% during the 4th 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. 81.99% of the stock is currently owned by institutional investors.
SLB News Roundup
Here are the key news stories impacting SLB this week:
- Positive Sentiment: SLB won a seven-year contract from Kuwait Oil Company under the Ahmadi Innovation Valley initiative, supporting applied research, technology deployment, and digital innovation. This could strengthen long-term revenue visibility and highlights demand for SLB’s energy technology offerings. SLB Awarded Seven-Year Contract Under Kuwait Oil Company’s Ahmadi Innovation Valley Initiative
- Positive Sentiment: SLB is also expanding its footprint in Louisiana, with Industrial Realty Group saying the company will occupy more space at its Shreveport campus. While this is not as material as the Kuwait deal, it suggests continued operational expansion and ongoing investment in capacity. IRG Expands Long-Term Lease with SLB in Shreveport, LA, 3.5 Million Sq. Ft. Former GM Facility Now Fully Leased
- Positive Sentiment: Several commentary pieces argue that SLB may be oversold after a sharp recent pullback, and that improving analyst earnings estimates could support a rebound. This may help explain why some investors are starting to view the weakness as a potential buying opportunity. Down 15.3% in 4 Weeks, Here’s Why You Should You Buy the Dip in SLB (SLB)
- Neutral Sentiment: Market-watchers also compared SLB with Enpro (NPO) as a value stock. This is more of a valuation discussion than a direct business catalyst, so it is likely limited in near-term stock impact. SLB vs. NPO: Which Stock Is the Better Value Option?
- Negative Sentiment: Despite the positive contract news, SLB has been trading lower over the past several weeks, reflecting recent selling pressure and concern about near-term momentum. That weakness may be capping enthusiasm even as investors wait to see whether new contract wins translate into stronger earnings. SLB (SLB) Stock Sinks As Market Gains: Here’s Why
Wall Street Analyst Weigh In
Insider Buying and Selling at SLB
In related 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 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 on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by insiders.
SLB Trading Up 0.1%
Shares of SLB opened at $46.44 on Wednesday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The company has a market capitalization of $69.44 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.86 and a beta of 0.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The firm’s 50 day simple moving average is $53.99 and its 200 day simple moving average is $49.56.
SLB (NYSE:SLB – Get Free Report) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 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 business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. Sell-side analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.
SLB Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s payout ratio is currently 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.
Further Reading
- Five stocks we like better than SLB
- NextEra’s Dominion Deal Could Put It at the Center of the AI Power Race
- Amazon Could Be About to Reap the Rewards of a Software Spending Boom
- Best Buy’s Turnaround Is Gaining Traction, But Wall Street Still Needs Proof
- AI Fears Hit Nebius Stock, But Has the Growth Thesis Changed?
Receive News & Ratings for SLB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SLB and related companies with MarketBeat.com's FREE daily email newsletter.
