Adams Natural Resources Fund Inc. Has $28.40 Million Stock Holdings in SLB Limited $SLB

Adams Natural Resources Fund Inc. raised its holdings in shares of SLB Limited (NYSE:SLB) by 64.3% in the first quarter, HoldingsChannel reports. The firm owned 552,633 shares of the oil and gas company’s stock after buying an additional 216,200 shares during the quarter. SLB makes up 3.3% of Adams Natural Resources Fund Inc.’s investment portfolio, making the stock its 5th biggest position. Adams Natural Resources Fund Inc.’s holdings in SLB were worth $28,400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. MV Capital Management Inc. purchased a new position in shares of SLB during the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC purchased a new stake in SLB in the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in SLB in the fourth quarter worth $31,000. Steph & Co. boosted its holdings in SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 394 shares in the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new position in SLB during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Trading Down 1.0%

NYSE:SLB opened at $46.95 on Friday. The stock has a market cap of $70.19 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.89 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. The company’s 50 day moving average price is $54.22 and its 200-day moving average price is $49.37. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share 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 company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. During the same period in the previous year, the business earned $0.72 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

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 paid a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. SLB’s payout ratio is currently 51.53%.

Analysts Set New Price Targets

Several research analysts have commented on SLB shares. TD Cowen upped their price objective on shares of SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 27th. BMO Capital Markets lifted their target price on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Weiss Ratings downgraded shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Jefferies Financial Group restated a “buy” rating and issued a $65.00 price objective on shares of SLB in a report on Sunday, April 26th. Finally, Morgan Stanley set a $57.00 price objective on SLB in a research report on Monday, April 27th. Three investment 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 given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.83.

Insider Buying and Selling

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction 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 approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were 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. This trade represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company’s stock.

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.