Black Cypress Capital Management LLC Has $11.44 Million Stock Position in SLB Limited $SLB

Black Cypress Capital Management LLC lifted its holdings in shares of SLB Limited (NYSE:SLB) by 24.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 298,162 shares of the oil and gas company’s stock after buying an additional 59,312 shares during the period. SLB comprises 8.0% of Black Cypress Capital Management LLC’s holdings, making the stock its 5th largest position. Black Cypress Capital Management LLC’s holdings in SLB were worth $11,443,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Steph & Co. raised its holdings in SLB by 97.5% in the 4th 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 during the period. Strategic Wealth Advisors LLC bought a new position in shares of SLB during the fourth quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SLB during the fourth quarter worth approximately $31,000. Lloyd Advisory Services LLC. bought a new position in shares of SLB during the fourth quarter worth approximately $31,000. Finally, Eagle Bay Advisors LLC bought a new position in SLB in the fourth quarter valued at approximately $34,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Barclays lifted their price objective on shares of SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Stifel Nicolaus lifted their price objective on shares of SLB from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Susquehanna lifted their price objective on shares of SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research note on Monday, April 27th. Finally, Weiss Ratings lowered shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.74.

SLB Stock Performance

Shares of SLB stock opened at $54.44 on Friday. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The firm has a market capitalization of $81.39 billion, a P/E ratio of 23.77, a P/E/G ratio of 2.21 and a beta of 0.72. The company’s 50 day moving average price is $53.52 and its two-hundred day moving average price is $47.12.

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

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is 51.53%.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, the director owned 16,953 shares in the company, 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 is accessible through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade 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 insiders.

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.