Calamos Advisors LLC Sells 177,868 Shares of SLB Limited $SLB

Calamos Advisors LLC cut its holdings in shares of SLB Limited (NYSE:SLB) by 35.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 318,146 shares of the oil and gas company’s stock after selling 177,868 shares during the quarter. Calamos Advisors LLC’s holdings in SLB were worth $16,350,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position 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 valued at $7,156,177,000 after acquiring an additional 1,080,999 shares during the period. State Street Corp lifted its holdings in shares of 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 purchasing an additional 799,218 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 1,458,650 shares during the period. Morgan Stanley grew its stake 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 worth $1,423,716,000 after purchasing an additional 482,533 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake 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 worth $1,292,993,000 after purchasing an additional 510,747 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Transactions at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 16,953 shares of the company’s stock, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company’s stock.

SLB News Roundup

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB announced a strategic alliance with Liberty Energy to provide modular infrastructure and integrated power generation solutions for new data center projects worldwide, giving investors a new growth angle tied to AI-driven power demand. SLB, Liberty Energy to Form Strategic Alliance for Data Center Infrastructure and Power
• Positive Sentiment: SLB’s OneSubsea joint venture won a major EPC contract from Eni for Phase 3 of the Baleine deepwater project offshore Côte d’Ivoire, strengthening its subsea backlog and supporting long-term offshore revenue visibility. SLB OneSubsea Awarded EPC Contract for Eni’s Baleine Phase 3 Project Offshore Côte d’Ivoire
• Positive Sentiment: Additional reports said SLB shares edged higher as investors reacted to the Liberty Energy deal, with the market viewing the partnership as a way for SLB to capitalize on surging data center power demand. Reuters article on SLB partners with Liberty Energy to supply modular parts, power to data centers

SLB Trading Up 0.4%

NYSE:SLB opened at $47.56 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $71.11 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.92 and a beta of 0.72. The firm has a fifty day simple moving average of $52.29 and a two-hundred day simple moving average of $50.11. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Analysts expect that SLB Limited will post 2.59 EPS for the current fiscal year.

SLB Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. SLB’s payout ratio is presently 51.53%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SLB. Royal Bank Of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of SLB in a report on Tuesday, June 16th. TD Cowen cut their target price on SLB from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Evercore reiterated an “outperform” rating and issued a $64.00 price target on shares of SLB in a research report on Monday, April 27th. Sanford C. Bernstein increased their price target on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, BMO Capital Markets raised their price objective on SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.80.

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.