SLB Limited $SLB Shares Sold by RBF Capital LLC

RBF Capital LLC lessened its stake in SLB Limited (NYSE:SLB) by 44.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,000 shares of the oil and gas company’s stock after selling 40,000 shares during the quarter. RBF Capital LLC’s holdings in SLB were worth $2,570,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Evergreen Advisors LLC acquired a new stake in shares of SLB in the first quarter valued at about $26,000. Costello Asset Management INC raised its position in shares of SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 280 shares during the last quarter. MV Capital Management Inc. acquired a new position in shares of SLB during the 4th quarter worth about $28,000. Sound Income Strategies LLC lifted its stake in SLB by 71.1% in the 1st quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 324 shares in the last quarter. Finally, Steph & Co. lifted its stake in SLB by 97.5% in the 4th 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 in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Down 1.8%

Shares of NYSE SLB opened at $49.07 on Thursday. The stock has a market cap of $73.36 billion, a PE ratio of 23.70, a P/E/G ratio of 3.32 and a beta of 0.72. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The company has a 50-day moving average of $50.75 and a 200 day moving average of $50.74.

SLB (NYSE:SLB) last released its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. As a group, sell-side analysts predict that SLB Limited will post 2.49 EPS for the current fiscal year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a yield of 2.4%. SLB’s dividend payout ratio (DPR) is presently 57.00%.

Key Headlines Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB beat second-quarter expectations, reporting $0.55 in earnings per share versus the $0.51 consensus estimate and $8.97 billion in revenue versus $8.67 billion expected. Revenue increased 5% year over year, supporting the view that international oilfield-services activity remains resilient. The results also increased attention on energy ETFs with significant SLB exposure, including IEZ, OIH and XLE. Here’s How SLB’s Q2 Earnings Impact Energy ETFs
• Positive Sentiment: BMO Capital Markets raised its SLB price target to $63, while Morgan Stanley said the stock is expected to rise. Goldman Sachs reiterated a Buy rating with a $62 target, citing an international recovery, data-center expansion opportunities and potential for above-peer earnings and returns. These targets imply meaningful upside from recent trading levels. BMO Capital Markets Increases SLB Price Target to $63.00 SLB Stock Price Expected to Rise, Morgan Stanley Analyst Says
• Positive Sentiment: Longer-term valuation analysis described SLB as reasonably priced, with potential upside based on discounted cash-flow estimates. Offshore scale, digital services, production gains from ChampionX and data-center infrastructure initiatives are cited as growth drivers. SLB Stock Looks Reasonable Despite Its Five Year Run
• Neutral Sentiment: SLB has attracted unusually high investor and Zacks.com user interest following its earnings report, but the attention itself does not establish a clear change in fundamentals or valuation. SLB Is Attracting Investor Attention
• Negative Sentiment: Zacks Research downgraded SLB from “hold” to “strong sell,” likely weighing on sentiment and helping explain why the stock has decreased despite the earnings beat and bullish broker targets. Zacks Downgrades SLB
• Negative Sentiment: Near-term risks include Middle East disruptions, uncertainty around oil prices, elevated net debt and the possibility that earnings growth will take longer to materialize. SLB’s $0.55 quarterly EPS also remained below the $0.74 reported in the prior-year period. SLB Growth Outlook Hinges on Offshore, Digital and Production Gains

Insider Buying and Selling

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of SLB in a research note on Tuesday, June 16th. Zacks Research downgraded SLB from a “hold” rating to a “strong sell” rating in a research report on Monday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $66.00 price target on shares of SLB in a research note on Sunday. Wolfe Research began coverage on SLB in a research report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $61.35.

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.