14,198 Shares in SLB Limited $SLB Purchased by McLaughlin Asset Management Inc.

McLaughlin Asset Management Inc. acquired a new stake in SLB Limited (NYSE:SLB) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 14,198 shares of the oil and gas company’s stock, valued at approximately $545,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLB. Strategic Wealth Advisors LLC bought a new position in SLB in the 4th quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SLB during the fourth quarter valued at approximately $31,000. Steph & Co. raised its holdings in shares of SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 394 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in shares of SLB during the fourth quarter worth approximately $31,000. Finally, Bruce G. Allen Investments LLC boosted its position in shares of SLB by 37.0% during the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after buying an additional 227 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Trading Down 4.4%

SLB stock opened at $48.12 on Friday. SLB Limited has a 12-month low of $31.64 and a 12-month 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 capitalization of $71.95 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 2.04 and a beta of 0.70. The firm has a 50 day simple moving average of $54.77 and a 200-day simple moving average of $49.03.

SLB (NYSE:SLB) last announced its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 earnings per share. As a group, equities research analysts expect that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. SLB’s dividend payout ratio (DPR) is 51.53%.

Trending Headlines about SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB launched a new Digital Marketplace for AI tools and applications, expanding its digital ecosystem and reinforcing its software growth strategy. SLB Expands Digital Reach With New AI Marketplace Platform
• Positive Sentiment: Management signaled a long-term push to double digital business revenue and core profit by 2030, with reports also highlighting up to $2 billion in digital revenue and $10 billion in annual digital spending opportunities. SLB aims to double digital business revenue up to $2B by 2030
• Positive Sentiment: Traders showed strong bullish positioning, with unusual options activity skewing toward calls and volume running well above normal.
• Neutral Sentiment: SLB received added visibility after CEO Olivier Le Peuch appeared on CNBC with Jim Cramer and the company’s investor-day commentary continued to circulate among investors. SLB CEO Olivier Le Peuch goes one-on-one with Jim Cramer
• Neutral Sentiment: Market interest also picked up after reports noted SLB and Nvidia’s long-running partnership and the company became a trending stock on Zacks, which may be amplifying trading volume. Nvidia’s Next Huge Bet: Drill, Baby, Drill!

Insiders Place Their Bets

In related news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction dated 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 of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. 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 business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction 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 trade represents a 10.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on SLB shares. Wall Street Zen cut SLB from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. BMO Capital Markets boosted 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. TD Cowen increased their price target on SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Susquehanna raised their price target on SLB from $60.00 to $65.00 and gave the company a “positive” rating in a report on Monday, April 27th. Finally, Jefferies Financial Group restated a “buy” rating and set a $65.00 price objective on shares of SLB in a research note on Sunday, April 26th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.83.

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.