Assetmark Inc. Raises Stake in SLB Limited $SLB

Assetmark Inc. lifted its stake in shares of SLB Limited (NYSE:SLB) by 21.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 98,006 shares of the oil and gas company’s stock after acquiring an additional 17,434 shares during the period. Assetmark Inc.’s holdings in SLB were worth $5,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SLB. Vanguard Group Inc. increased its position in SLB by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock worth $7,156,177,000 after purchasing an additional 1,080,999 shares during the last quarter. State Street Corp raised its position in shares of SLB by 1.0% during the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock valued at $3,263,998,000 after buying an additional 799,218 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in SLB by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock valued at $2,072,844,000 after acquiring an additional 1,458,650 shares during the last quarter. Morgan Stanley grew its position in SLB by 1.3% in the fourth quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock worth $1,423,716,000 after acquiring an additional 482,533 shares during the period. Finally, Geode Capital Management LLC increased its stake in SLB by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock worth $1,292,993,000 after acquiring an additional 510,747 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Price Performance

SLB stock opened at $46.62 on Wednesday. The business’s fifty day moving average price is $51.54 and its 200 day moving average price is $50.42. 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 company has a market capitalization of $69.70 billion, a PE ratio of 20.36, a P/E/G ratio of 1.87 and a beta of 0.72.

SLB (NYSE:SLB) last announced its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.SLB’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. On average, sell-side analysts anticipate that SLB Limited will post 2.53 EPS for the current year.

SLB Dividend Announcement

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

Analyst Ratings Changes

SLB has been the topic of a number of research analyst reports. Sanford C. Bernstein lifted their target price on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of SLB in a research report on Tuesday, June 16th. Wolfe Research started coverage on shares of SLB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price objective on the stock. Piper Sandler upped their target price on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Finally, Citigroup lowered their target price on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and an average price target of $60.30.

Insider Buying and Selling

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’s 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 directly owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by corporate insiders.

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.