Adams Natural Resources Fund Inc. Sells 18,800 Shares of SLB Limited $SLB

Adams Natural Resources Fund Inc. trimmed its position in SLB Limited (NYSE:SLB) by 5.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 336,433 shares of the oil and gas company’s stock after selling 18,800 shares during the period. SLB makes up approximately 2.0% of Adams Natural Resources Fund Inc.’s portfolio, making the stock its 13th biggest position. Adams Natural Resources Fund Inc.’s holdings in SLB were worth $12,912,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares in the last quarter. Bison Wealth LLC bought a new stake in SLB during the 4th quarter worth approximately $238,000. Marshall Wace LLP bought a new stake in SLB during the 2nd quarter worth approximately $8,628,000. Nebula Research & Development LLC increased its holdings in SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock worth $824,000 after purchasing an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock worth $373,000 after purchasing an additional 799 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Stifel Nicolaus boosted their price objective on SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, April 27th. The Goldman Sachs Group boosted their price objective on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Citigroup boosted their price objective on SLB from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Piper Sandler boosted their price objective on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Three research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

Insider Buying and Selling at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction 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 in the company, valued at $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction 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 sale, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.

SLB Price Performance

SLB stock opened at $56.03 on Friday. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The business’s 50 day simple moving average is $54.64 and its 200 day simple moving average is $48.51. The company has a market cap of $83.76 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 2.28 and a beta of 0.70.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating 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 the consensus estimate of $8.76 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. SLB’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts forecast that SLB Limited will post 2.62 EPS for the current year.

SLB Dividend Announcement

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