Nwam LLC Takes Position in SLB Limited $SLB

Nwam LLC acquired a new stake in SLB Limited (NYSE:SLB) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 75,089 shares of the oil and gas company’s stock, valued at approximately $2,882,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Root Financial Partners LLC acquired a new position in shares of SLB in the 3rd quarter valued at about $29,000. Strategic Wealth Advisors LLC acquired a new stake in shares of SLB in the fourth quarter worth $30,000. Strengthening Families & Communities LLC acquired a new stake in shares of SLB in the third quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in SLB in the fourth quarter valued at $31,000. Finally, Steph & Co. raised its holdings in 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 in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Trading Down 0.1%

NYSE SLB opened at $53.21 on Monday. SLB Limited has a one year low of $31.64 and a one year high of $57.20. The company has a 50-day simple moving average of $50.88 and a 200-day simple moving average of $44.92. 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 firm has a market capitalization of $79.55 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 3.75 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 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $8.72 billion during 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 company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 EPS. On average, equities analysts forecast that SLB Limited will post 2.61 earnings per share for the current 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 issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. SLB’s 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 on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction 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 approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 transaction 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. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler lifted their price target on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. BMO Capital Markets lifted their price target on SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. lifted their price target on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Wall Street Zen lowered SLB from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 price target on shares of SLB in a research report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.95.

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.