D.A. Davidson & CO. Increases Stock Position in SLB Limited $SLB

D.A. Davidson & CO. boosted its position in shares of SLB Limited (NYSE:SLB) by 12.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 196,631 shares of the oil and gas company’s stock after buying an additional 21,705 shares during the quarter. D.A. Davidson & CO.’s holdings in SLB were worth $10,105,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of SLB by 56.8% in the first quarter. Bank of New York Mellon Corp now owns 24,615,243 shares of the oil and gas company’s stock worth $1,264,977,000 after acquiring an additional 8,918,412 shares during the period. Illinois Municipal Retirement Fund acquired a new position in SLB in the 1st quarter worth about $1,061,000. Goehring & Rozencwajg Associates LLC boosted its position in SLB by 145.3% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,298,550 shares of the oil and gas company’s stock worth $118,122,000 after purchasing an additional 1,361,588 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in SLB by 8.1% during the first quarter. Geneos Wealth Management Inc. now owns 127,794 shares of the oil and gas company’s stock worth $6,567,000 after purchasing an additional 9,586 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in SLB in the first quarter valued at approximately $360,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Transactions at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the sale, the director directly owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 $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 owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on SLB. Jefferies Financial Group reaffirmed a “buy” rating and set a $65.00 target price on shares of SLB in a research note on Sunday, April 26th. Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of SLB in a report on Tuesday, June 16th. Citigroup reduced their price objective on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Weiss Ratings downgraded shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Finally, Stifel Nicolaus lifted their target price on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average target price of $60.30.

SLB Stock Performance

Shares of SLB stock opened at $47.01 on Friday. The business’s 50 day moving average price is $51.90 and its 200 day moving average price is $50.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The company has a market cap of $70.29 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.89 and a beta of 0.72. SLB Limited has a one year low of $31.64 and a one year 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 (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. SLB’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.72 earnings per share. On average, research analysts predict that SLB Limited will post 2.53 EPS for the current year.

SLB Announces Dividend

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