ABC Arbitrage SA Purchases Shares of 31,651 SLB Limited $SLB

ABC Arbitrage SA purchased a new stake in SLB Limited (NYSE:SLB) during the first quarter, Holdings Channel reports. The firm purchased 31,651 shares of the oil and gas company’s stock, valued at approximately $1,627,000.

Several other large investors have also recently modified their holdings of SLB. MV Capital Management Inc. purchased a new stake in shares of SLB during the 4th quarter valued at $28,000. Strategic Wealth Advisors LLC purchased a new position in SLB during the 4th quarter worth $30,000. Costello Asset Management INC grew its stake in SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after buying an additional 280 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in SLB during the 4th quarter valued at about $31,000. Finally, Steph & Co. increased its position in SLB by 97.5% during the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 394 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’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 sale, the director directly owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SLB. JPMorgan Chase & Co. raised their price target on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Barclays increased their price objective on shares of SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. TD Cowen lowered their target price on shares of SLB from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. UBS Group dropped their target price on shares of SLB from $69.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Finally, Susquehanna cut their price target on shares of SLB from $65.00 to $55.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.80.

SLB Price Performance

NYSE:SLB opened at $47.38 on Tuesday. The firm’s fifty day moving average is $52.46 and its two-hundred day moving average is $50.05. The firm has a market cap of $70.83 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.94 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. SLB Limited has a one year low of $31.64 and a one year high of $58.82.

SLB (NYSE:SLB) last issued its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $8.76 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. Research analysts expect that SLB Limited will post 2.59 EPS for the current year.

SLB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd were given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is currently 51.53%.

SLB 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.