Brooklands Fund Management Ltd Has $2.13 Million Holdings in SLB Limited $SLB

Brooklands Fund Management Ltd lessened its stake in SLB Limited (NYSE:SLB) by 76.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,381 shares of the oil and gas company’s stock after selling 184,619 shares during the quarter. SLB comprises approximately 0.3% of Brooklands Fund Management Ltd’s investment portfolio, making the stock its 16th biggest holding. Brooklands Fund Management Ltd’s holdings in SLB were worth $2,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Alberta Investment Management Corp increased its position in SLB by 826.6% in the 4th quarter. Alberta Investment Management Corp now owns 898,800 shares of the oil and gas company’s stock valued at $34,496,000 after acquiring an additional 801,800 shares in the last quarter. Needham Investment Management LLC bought a new position in shares of SLB in the 4th quarter valued at about $211,000. Thornburg Investment Management Inc. boosted its stake in shares of SLB by 3.8% in the 4th quarter. Thornburg Investment Management Inc. now owns 35,406 shares of the oil and gas company’s stock valued at $1,359,000 after purchasing an additional 1,306 shares during the last quarter. Venture Visionary Partners LLC boosted its stake in shares of SLB by 16.4% in the 4th quarter. Venture Visionary Partners LLC now owns 11,818 shares of the oil and gas company’s stock valued at $454,000 after purchasing an additional 1,661 shares during the last quarter. Finally, Whalerock Point Partners LLC bought a new position in shares of SLB in the 4th quarter valued at about $221,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SLB shares. BMO Capital Markets raised 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. Stifel Nicolaus raised their target price 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. JPMorgan Chase & Co. raised their target price on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Piper Sandler raised their target price 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. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of SLB in a research note on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

Insider Activity at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of SLB 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 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 filing with the SEC, which is available through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the 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 sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by company insiders.

SLB Stock Down 4.6%

SLB stock opened at $53.60 on Tuesday. The company’s 50 day simple moving average is $54.72 and its 200 day simple moving average is $48.72. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The firm has a market capitalization of $80.13 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.28 and a beta of 0.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter last year, the firm earned $0.72 EPS. SLB’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that SLB Limited will post 2.62 EPS for the current year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.2%. SLB’s dividend payout ratio (DPR) is presently 51.53%.

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.