SLB Limited $SLB Shares Bought by Lmcg Investments LLC

Lmcg Investments LLC grew its stake in shares of SLB Limited (NYSE:SLB) by 16.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 124,345 shares of the oil and gas company’s stock after purchasing an additional 17,441 shares during the period. Lmcg Investments LLC’s holdings in SLB were worth $6,390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SLB. Fearnley Asset Management AS purchased a new position in shares of SLB during the 4th quarter worth approximately $8,574,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in SLB by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock valued at $126,303,000 after buying an additional 128,660 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in SLB in the 1st quarter valued at approximately $47,528,000. Cibc World Market Inc. grew its holdings in SLB by 48.7% during the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock valued at $52,468,000 after buying an additional 447,667 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in SLB by 65.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock worth $7,898,000 after buying an additional 81,045 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the 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 transaction, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB 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 in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SLB. UBS Group cut their price target on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. BMO Capital Markets increased their price objective on SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Wolfe Research assumed coverage on shares of SLB in a research note on Wednesday. They issued an “outperform” rating and a $62.00 target price for the company. Susquehanna decreased their price target on shares of SLB from $65.00 to $55.00 and set a “positive” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley set a $57.00 price target on shares of SLB in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and an average target price of $59.74.

SLB Price Performance

Shares of NYSE:SLB opened at $47.32 on Thursday. The company has a market cap of $70.74 billion, a P/E ratio of 20.66, a P/E/G ratio of 1.88 and a beta of 0.72. The business has a fifty day simple moving average of $52.98 and a 200-day simple moving average of $49.85. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. 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 (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 return on equity of 15.54% and a net margin of 9.26%.The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts forecast that SLB Limited will post 2.6 EPS for the current year.

SLB Dividend Announcement

The business also recently disclosed 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. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is presently 51.53%.

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.