Capital Management Associates NY Acquires New Holdings in SLB Limited $SLB

Capital Management Associates NY bought a new stake in SLB Limited (NYSE:SLB) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 17,000 shares of the oil and gas company’s stock, valued at approximately $874,000.

Other large investors have also added to or reduced their stakes in the company. MV Capital Management Inc. bought a new stake in shares of SLB in the 4th quarter valued at about $28,000. Strategic Wealth Advisors LLC purchased a new position in shares of SLB in the 4th quarter worth approximately $30,000. Costello Asset Management INC raised its stake in shares of 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 acquiring an additional 280 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SLB during the 4th quarter worth approximately $31,000. Finally, Steph & Co. lifted its position in SLB by 97.5% during the fourth 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 last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Performance

Shares of NYSE SLB opened at $47.38 on Tuesday. The company has a 50 day simple moving average of $52.46 and a two-hundred day simple moving average of $50.05. The stock 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 current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82.

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 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 in the prior year, the business earned $0.72 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, analysts predict that SLB Limited will post 2.59 earnings per share for the current year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Shareholders 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 of this dividend was Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is currently 51.53%.

Insider Transactions at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated 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 approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SLB shares. Evercore restated an “outperform” rating and issued a $64.00 target price on shares of SLB in a research note on Monday, April 27th. Weiss Ratings downgraded SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. UBS Group decreased their price objective on SLB from $69.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Barclays raised their price objective on SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. boosted their target price on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.80.

SLB Company 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.