SLB Limited $SLB Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. raised its holdings in SLB Limited (NYSE:SLB) by 12.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 196,631 shares of the oil and gas company’s stock after acquiring an additional 21,705 shares during the quarter. D.A. Davidson & CO.’s holdings in SLB were worth $10,105,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Abel Hall LLC grew its stake in SLB by 2.7% during the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after purchasing an additional 198 shares in the last quarter. Private Wealth Asset Management LLC raised its position in SLB by 4.1% in the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after purchasing an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of SLB by 9.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock valued at $129,000 after buying an additional 214 shares during the period. Ballentine Partners LLC grew its position in shares of SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after buying an additional 218 shares in the last quarter. Finally, Davis Capital Management grew its position in shares of SLB by 1.0% during the first quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock worth $1,129,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was 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 of the company’s stock, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director directly owned 16,953 shares of the company’s stock, valued at $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company’s stock.

SLB Stock Down 0.1%

Shares of NYSE:SLB opened at $47.01 on Friday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. 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 stock has a market cap of $70.29 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.89 and a beta of 0.72. The firm has a fifty day moving average price of $51.90 and a 200 day moving average price of $50.22.

SLB (NYSE:SLB) last posted 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. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same period in the previous year, the business posted $0.72 earnings per share. SLB’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that SLB Limited will post 2.53 EPS for the current year.

SLB Announces Dividend

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

Analysts Set New Price Targets

Several research firms have commented on SLB. Piper Sandler boosted their price target on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Sanford C. Bernstein lifted their price objective on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Barclays lowered their target price on shares of SLB from $66.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday. Stifel Nicolaus increased their target price on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, JPMorgan Chase & Co. raised their price target on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, SLB presently has an average rating of “Moderate Buy” and a consensus target price of $60.30.

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.