SLB Limited $SLB Shares Purchased by Choate Investment Advisors

Choate Investment Advisors lifted its holdings in SLB Limited (NYSE:SLB) by 196.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,242 shares of the oil and gas company’s stock after purchasing an additional 24,033 shares during the period. Choate Investment Advisors’ holdings in SLB were worth $1,391,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in shares of SLB in the third quarter valued at approximately $29,000. Strategic Wealth Advisors LLC acquired a new position in shares of SLB in the fourth quarter valued at approximately $30,000. Strengthening Families & Communities LLC acquired a new position in shares of SLB in the third quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of SLB in the fourth quarter valued at approximately $31,000. Finally, Steph & Co. grew its holdings in shares of 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 purchasing an additional 394 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of research reports. Jefferies Financial Group restated a “buy” rating and issued a $65.00 price objective on shares of SLB in a report on Sunday, April 26th. Piper Sandler lifted their price objective on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Barclays lifted their price objective on shares of SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, April 27th. BMO Capital Markets lifted 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, SLB has an average rating of “Moderate Buy” and a consensus price target of $59.74.

SLB Trading Down 0.0%

NYSE SLB opened at $57.27 on Tuesday. 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 52 week low of $31.64 and a 52 week high of $57.88. The stock has a market capitalization of $85.63 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.32 and a beta of 0.72. The firm has a 50 day moving average of $52.66 and a two-hundred day moving average of $46.65.

SLB (NYSE:SLB) last issued its quarterly earnings data 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. The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. As a group, research analysts expect that SLB Limited will post 2.61 EPS for the current fiscal 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 given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.

Insider Activity at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the sale, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This represents a 10.55% 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 insiders.

SLB Company 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.