Baker Avenue Asset Management LP Reduces Holdings in SLB Limited $SLB

Baker Avenue Asset Management LP decreased its holdings in shares of SLB Limited (NYSE:SLB) by 14.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 434,410 shares of the oil and gas company’s stock after selling 73,598 shares during the period. Baker Avenue Asset Management LP’s holdings in SLB were worth $16,673,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Steph & Co. grew its stake in shares of SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 394 shares during the last quarter. Strategic Wealth Advisors LLC purchased a new stake in shares of SLB during the fourth quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of SLB during the fourth quarter worth about $31,000. Lloyd Advisory Services LLC. purchased a new stake in shares of SLB during the fourth quarter worth about $31,000. Finally, Root Financial Partners LLC purchased a new stake in shares of SLB during the third quarter worth about $29,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Trading Down 2.5%

SLB stock opened at $56.53 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The stock’s 50 day simple moving average is $53.16 and its two-hundred day simple moving average is $46.94. The firm has a market cap of $84.52 billion, a PE ratio of 24.69, a P/E/G ratio of 2.35 and a beta of 0.72.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS 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 business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts anticipate that SLB Limited will post 2.62 earnings per share for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is currently 51.53%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SLB. Wall Street Zen lowered SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Piper Sandler boosted 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. Stifel Nicolaus boosted their price target on SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. The Goldman Sachs Group boosted their price target on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, Evercore reiterated an “outperform” rating and issued a $64.00 target price on shares of SLB in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.74.

Insider Activity at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the company’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 completion of the transaction, the director directly owned 16,953 shares of the company’s stock, valued at $921,056.49. This represents a 10.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the transaction, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.

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.