Bank of New York Mellon Corp Has $1.26 Billion Stock Holdings in SLB Limited $SLB

Bank of New York Mellon Corp raised its position in shares of SLB Limited (NYSE:SLB) by 56.8% in the first quarter, HoldingsChannel reports. The fund owned 24,615,243 shares of the oil and gas company’s stock after acquiring an additional 8,918,412 shares during the period. Bank of New York Mellon Corp’s holdings in SLB were worth $1,264,977,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MV Capital Management Inc. acquired a new position in SLB in the 4th quarter valued at $28,000. Strategic Wealth Advisors LLC bought a new position in SLB during the 4th quarter worth $30,000. Costello Asset Management INC lifted its holdings in shares of SLB by 93.3% during the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after buying an additional 280 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB during the fourth quarter worth $31,000. Finally, Steph & Co. boosted its position in shares of SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 394 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Key SLB News

Here are the key news stories impacting SLB this week:

• Positive Sentiment: The Liberty Energy partnership opens a potential new revenue stream for SLB in AI data center infrastructure and power, expanding the company beyond traditional oilfield services. SLB partners with Liberty Energy to supply modular parts, power to data centers
• Positive Sentiment: SLB said it has already shipped more than 1.3 gigawatts of data center infrastructure since April 2024, with cumulative deliveries expected to exceed 2 gigawatts by the end of 2026, suggesting growing traction in this business line. SLB, Liberty Energy to Form Strategic Alliance for Data Center Infrastructure and Power
• Neutral Sentiment: Recent commentary says SLB still looks undervalued on some fair-value and discounted cash flow measures, which may support the stock, but that view depends on execution and investor confidence in the new data-center strategy. SLB (SLB) Stock Still Trades At A Discount To Fair Value
• Neutral Sentiment: SLB also won a Baleine Phase 3 EPC contract, which adds to subsea backlog and reinforces offshore growth, but this is more of a steady operational win than a major near-term catalyst. SLB Wins Multi-Well EPC Contract for the Baleine Phase 3 Development

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of SLB 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 in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction 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 transaction, 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. Company insiders own 0.16% of the company’s stock.

SLB Price Performance

Shares of NYSE:SLB opened at $47.56 on Thursday. The firm has a 50 day moving average of $52.14 and a 200-day moving average of $50.18. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. 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 PE ratio of 20.77, a PEG ratio of 1.93 and a beta of 0.72.

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. The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. On average, equities research analysts predict that SLB Limited will post 2.58 EPS for the current fiscal year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd were issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is currently 51.53%.

Analyst Ratings Changes

A number of brokerages have issued reports on SLB. Sanford C. Bernstein increased their target price 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 lifted their price target on shares of SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. BMO Capital Markets increased their price target on SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Citigroup lowered their price objective on SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Finally, Piper Sandler lifted their price objective on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.65.

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.