57,425 Shares in SLB Limited $SLB Acquired by Gator Capital Management LLC

Key Points

• Gator Capital Management opened a new position in SLB during the fourth quarter, buying 57,425 shares worth about $2.2 million.
• Institutional interest in SLB remains strong, with large investors like Vanguard, Norges Bank, and State Street adding to positions; about 81.99% of the stock is owned by hedge funds and other institutions.
• SLB beat quarterly earnings expectations with $0.52 EPS and reaffirmed analyst optimism, as the stock carries a Moderate Buy consensus and an average price target of $60.67.

Gator Capital Management LLC purchased a new position in SLB Limited (NYSE:SLB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 57,425 shares of the oil and gas company's stock, valued at approximately $2,204,000.

A number of other large investors also recently added to or reduced their stakes in SLB. Vanguard Group Inc. lifted its holdings in SLB by 23.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company's stock worth $6,371,335,000 after purchasing an additional 35,057,313 shares in the last quarter. Norges Bank purchased a new position in SLB in the 4th quarter worth approximately $809,557,000. Bank of New York Mellon Corp lifted its holdings in SLB by 64.4% in the 4th quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company's stock worth $602,444,000 after purchasing an additional 6,149,511 shares in the last quarter. State Street Corp increased its stake in SLB by 7.0% in the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company's stock worth $2,898,037,000 after acquiring an additional 5,466,786 shares during the last quarter. Finally, Capital International Investors increased its stake in SLB by 86.9% in the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company's stock worth $446,247,000 after acquiring an additional 5,404,948 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $61.00 price objective on shares of SLB in a research note on Monday, April 27th. Piper Sandler lifted their price objective on SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Wall Street Zen downgraded SLB from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. TD Cowen lifted their price objective on SLB from $55.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Finally, Weiss Ratings downgraded SLB from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.67.

SLB Stock Performance

NYSE SLB opened at $56.03 on Friday. The company has a market cap of $83.76 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.27 and a beta of 0.70. 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 business's 50 day moving average price is $54.64 and its 200-day moving average price is $48.51. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82.

SLB (NYSE:SLB - Get Free Report) last released its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. Sell-side analysts predict that SLB Limited will post 2.62 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 annualized dividend and a dividend yield of 2.1%. SLB's payout ratio is currently 51.53%.

Insider Activity at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.16% of the company's stock.

SLB 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.

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