Collaborative Fund Advisors LLC Invests $726,000 in SLB Limited $SLB

Collaborative Fund Advisors LLC acquired a new stake in shares of SLB Limited (NYSE:SLB) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 14,123 shares of the oil and gas company’s stock, valued at approximately $726,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fearnley Asset Management AS bought a new position in shares of SLB during the 4th quarter valued at approximately $8,574,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in SLB by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock worth $126,303,000 after buying an additional 128,660 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in SLB in the first quarter worth $47,528,000. Cibc World Market Inc. boosted its stake in SLB by 48.7% during the fourth quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock worth $52,468,000 after buying an additional 447,667 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in SLB by 65.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock worth $7,898,000 after buying an additional 81,045 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Stock Down 0.1%

Shares of SLB opened at $45.09 on Monday. The firm has a fifty day moving average price of $53.51 and a 200-day moving average price of $49.67. 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 firm has a market capitalization of $67.42 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.82 and a beta of 0.72. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS 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 company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter last year, the firm posted $0.72 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts expect that SLB Limited will post 2.6 earnings per share for the current year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.6%. SLB’s dividend payout ratio (DPR) is 51.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of SLB in a research note on Tuesday, June 16th. JPMorgan Chase & Co. lifted their price target on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Evercore reiterated an “outperform” rating and set a $64.00 price target on shares of SLB 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 stock an “overweight” rating in a research report on Monday, April 27th. Finally, BMO Capital Markets boosted their target price on SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Insider Activity at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction that occurred 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 owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’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 sale, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. The trade was a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.