L2 Asset Management LLC Grows Position in SLB Limited $SLB

L2 Asset Management LLC raised its holdings in SLB Limited (NYSE:SLB) by 24.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 101,428 shares of the oil and gas company’s stock after acquiring an additional 20,067 shares during the quarter. L2 Asset Management LLC’s holdings in SLB were worth $3,893,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 1,166 shares in the last quarter. Bison Wealth LLC purchased a new position in shares of SLB during the 4th quarter valued at about $238,000. Marshall Wace LLP purchased a new position in shares of SLB during the 2nd quarter valued at about $8,628,000. Nebula Research & Development LLC raised its holdings in shares of SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock valued at $824,000 after buying an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in shares of SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock valued at $373,000 after buying an additional 799 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. UBS Group raised their price objective on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price objective on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Sanford C. Bernstein raised their price objective on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Morgan Stanley set a $57.00 price objective on SLB in a report on Monday, April 27th. Finally, TD Cowen raised their price objective on SLB from $55.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.67.

Insider Activity at SLB

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’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 transaction, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. 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 SLB 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 completion of the sale, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by company insiders.

SLB Price Performance

SLB opened at $53.60 on Tuesday. The stock’s 50 day simple moving average is $54.72 and its 200 day simple moving average is $48.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. The firm has a market cap of $80.13 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.28 and a beta of 0.70.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company earned $0.72 EPS. SLB’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts predict that SLB Limited will post 2.62 earnings per share for the current year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is presently 51.53%.

SLB 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.