Keybank National Association OH Raises Stock Position in SLB Limited $SLB

Keybank National Association OH increased its position in shares of SLB Limited (NYSE:SLB) by 33.8% in the 1st quarter, HoldingsChannel reports. The fund owned 152,496 shares of the oil and gas company’s stock after acquiring an additional 38,545 shares during the period. Keybank National Association OH’s holdings in SLB were worth $7,837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SLB. MV Capital Management Inc. acquired a new stake in SLB in the fourth quarter valued at approximately $28,000. Steph & Co. increased its position 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 worth $31,000 after purchasing an additional 394 shares in the last quarter. Strategic Wealth Advisors LLC acquired a new position in shares of SLB during the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of SLB during the 4th quarter valued at $31,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of SLB in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLB. Jefferies Financial Group reaffirmed a “buy” rating and set a $65.00 target price on shares of SLB in a research report on Sunday, April 26th. Barclays boosted their price target on SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. BMO Capital Markets upped their price objective on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Morgan Stanley set a $57.00 target price on shares of SLB in a research note on Monday, April 27th. Finally, Evercore reissued an “outperform” rating and set a $64.00 target price on shares of SLB in a research report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.17.

SLB Stock Down 0.1%

SLB stock opened at $45.09 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The business’s 50-day simple moving average is $53.51 and its two-hundred day simple moving average is $49.60. The company has a market cap of $67.42 billion, a PE ratio of 19.69, a PEG ratio of 1.82 and a beta of 0.72. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82.

SLB (NYSE:SLB) last announced its quarterly earnings data 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 firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same period last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts anticipate that SLB Limited will post 2.6 EPS for the current year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is 51.53%.

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the business’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 completion of the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction dated 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 $921,056.49. The trade was a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company’s stock.

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.