Impala Asset Management LLC Buys Shares of 157,284 SLB Limited $SLB

Impala Asset Management LLC acquired a new position in shares of SLB Limited (NYSE:SLB) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 157,284 shares of the oil and gas company’s stock, valued at approximately $8,083,000. SLB comprises 3.8% of Impala Asset Management LLC’s holdings, making the stock its 9th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of SLB by 21.4% during the fourth 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 during the last quarter. Bison Wealth LLC bought a new position in SLB in the 4th quarter worth approximately $238,000. Marshall Wace LLP bought a new position in SLB in the 2nd quarter worth approximately $8,628,000. Nebula Research & Development LLC increased its position in SLB by 76.0% in 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 acquiring an additional 10,522 shares during the period. Finally, Diversify Advisory Services LLC increased its position in SLB by 7.6% in 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 acquiring an additional 799 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Trading Up 2.4%

Shares of NYSE SLB opened at $47.72 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a market cap of $71.34 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 1.88 and a beta of 0.72. The business has a fifty day simple moving average of $51.39 and a 200-day simple moving average of $50.49.

SLB (NYSE:SLB) last released its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping 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 business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period last year, the firm posted $0.72 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts predict that SLB Limited will post 2.52 EPS for the current year.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent analyst reports. Wolfe Research began coverage on shares of SLB in a research note on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price objective on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of SLB in a research report on Tuesday, June 16th. Stifel Nicolaus raised their target price on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Susquehanna dropped their price target on shares of SLB from $65.00 to $55.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Finally, TD Cowen reduced their price target on shares of SLB from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.30.

Insider Activity at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction 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 transaction, the director directly owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by corporate insiders.

About SLB

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.