Global Retirement Partners LLC Has $836,000 Holdings in SLB Limited $SLB

Global Retirement Partners LLC increased its holdings in shares of SLB Limited (NYSE:SLB) by 222.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,791 shares of the oil and gas company’s stock after buying an additional 15,041 shares during the quarter. Global Retirement Partners LLC’s holdings in SLB were worth $836,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SLB. ABN Amro Investment Solutions raised its stake in shares of SLB by 5.6% in the 4th quarter. ABN Amro Investment Solutions now owns 274,167 shares of the oil and gas company’s stock valued at $10,523,000 after purchasing an additional 14,541 shares during the period. IFP Advisors Inc raised its stake in shares of SLB by 2.3% in the 4th quarter. IFP Advisors Inc now owns 28,992 shares of the oil and gas company’s stock valued at $1,113,000 after purchasing an additional 661 shares during the period. Cullen Frost Bankers Inc. raised its stake in shares of SLB by 13.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 20,021 shares of the oil and gas company’s stock valued at $768,000 after purchasing an additional 2,338 shares during the period. Covestor Ltd raised its stake in shares of SLB by 60.3% in the 4th quarter. Covestor Ltd now owns 1,975 shares of the oil and gas company’s stock valued at $76,000 after purchasing an additional 743 shares during the period. Finally, Harvest Portfolios Group Inc. raised its stake in shares of SLB by 11.1% in the 4th quarter. Harvest Portfolios Group Inc. now owns 53,879 shares of the oil and gas company’s stock valued at $2,068,000 after purchasing an additional 5,397 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on SLB. Piper Sandler lifted their price target on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of SLB in a research note on Monday, April 27th. Sanford C. Bernstein lifted their price target on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen downgraded SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, TD Cowen lifted their price target on SLB from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given 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 price target of $59.74.

SLB Price Performance

NYSE:SLB opened at $58.18 on Wednesday. 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 stock’s 50-day simple moving average is $52.92 and its 200 day simple moving average is $46.80. The company has a market cap of $86.98 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.32 and a beta of 0.72. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82.

SLB (NYSE:SLB) last released its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.SLB’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. As a group, sell-side analysts forecast that SLB Limited will post 2.61 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.0%. SLB’s payout ratio is currently 51.53%.

Insider Transactions at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of SLB 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the sale, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by insiders.

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.