CenterBook Partners LP Acquires New Position in SLB Limited $SLB

CenterBook Partners LP acquired a new stake in shares of SLB Limited (NYSE:SLB) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 36,875 shares of the oil and gas company’s stock, valued at approximately $1,415,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in SLB by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock valued at $7,156,177,000 after buying an additional 1,080,999 shares in the last quarter. State Street Corp lifted its holdings in SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after buying an additional 5,466,786 shares in the last quarter. Geode Capital Management LLC lifted its holdings in SLB by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock valued at $1,292,993,000 after buying an additional 510,747 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in SLB by 0.6% during the 4th quarter. First Eagle Investment Management LLC now owns 27,718,458 shares of the oil and gas company’s stock valued at $1,063,834,000 after buying an additional 174,564 shares in the last quarter. Finally, Norges Bank bought a new stake in SLB during the 4th quarter valued at about $809,557,000. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SLB shares. JPMorgan Chase & Co. boosted their price target on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Piper Sandler boosted their price target on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Royal Bank Of Canada restated an “outperform” rating and issued a $61.00 price target on shares of SLB in a report on Monday, April 27th. Susquehanna boosted their price target on shares of SLB from $60.00 to $65.00 and gave the company a “positive” rating in a report on Monday, April 27th. Finally, Sanford C. Bernstein boosted their price target on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.67.

Insider Buying and Selling

In other SLB 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 directly owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by insiders.

SLB Stock Down 0.5%

Shares of SLB stock opened at $55.56 on Thursday. The firm’s 50 day moving average price is $54.43 and its 200-day moving average price is $48.32. 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 $58.82. The company has a market cap of $83.06 billion, a P/E ratio of 24.26, a PEG ratio of 2.26 and a beta of 0.70.

SLB (NYSE:SLB) last issued its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the previous year, the firm earned $0.72 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Announces Dividend

The company 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 $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 2.1%. SLB’s 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.