Dockside LLC Acquires New Position in SLB Limited $SLB

Dockside LLC acquired a new stake in SLB Limited (NYSE:SLB) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 13,374 shares of the oil and gas company’s stock, valued at approximately $513,000.

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

SLB Trading Down 0.3%

Shares of SLB opened at $56.03 on Monday. The business’s 50-day moving average price is $54.64 and its 200-day moving average price is $48.60. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The stock has a market cap of $83.76 billion, a PE ratio of 24.47, a P/E/G ratio of 2.28 and a beta of 0.70. 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 (NYSE:SLB) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share 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 firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts forecast that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Dividend Announcement

The business also recently declared 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. 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%.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm’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 directly owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLB. Susquehanna boosted their price objective on SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research note on Monday, April 27th. Morgan Stanley set a $57.00 price objective on SLB in a research note on Monday, April 27th. Sanford C. Bernstein boosted their price objective on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. UBS Group boosted their price objective on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, TD Cowen boosted their price objective on SLB from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

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.