Collaborative Fund Advisors LLC Takes $726,000 Position in SLB Limited $SLB

Collaborative Fund Advisors LLC purchased a new position in SLB Limited (NYSE:SLB) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 14,123 shares of the oil and gas company’s stock, valued at approximately $726,000.

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

Insiders Place Their Bets

In other news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’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 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.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays boosted their price target on SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Piper Sandler lifted their target price on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. BMO Capital Markets boosted their target price on shares of SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Sanford C. Bernstein increased 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. Finally, Susquehanna boosted their price objective on shares of SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, SLB presently has a consensus rating of “Moderate Buy” and an average target price of $60.17.

SLB Trading Down 0.1%

SLB stock opened at $45.09 on Monday. 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 stock has a market cap of $67.42 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 1.82 and a beta of 0.72. The stock has a 50-day moving average of $53.51 and a two-hundred day moving average of $49.67. SLB Limited has a one year low of $31.64 and a one year high of $58.82.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, research analysts anticipate that SLB Limited will post 2.6 EPS for the current fiscal year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.6%. SLB’s dividend payout ratio (DPR) is currently 51.53%.

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.