96,433 Shares in SLB Limited $SLB Bought by Havemeyer Place LP

Key Points

• Havemeyer Place LP opened a new position in SLB during the fourth quarter, buying 96,433 shares valued at about $3.7 million. The stake makes SLB the fund’s 12th-largest holding and accounts for roughly 0.7% of its portfolio.
• SLB reported better-than-expected EPS of $0.52 for the latest quarter, though revenue of $8.72 billion came in slightly below estimates. Revenue still rose 2.7% year over year, and analysts expect full-year EPS of 2.62.
• The company also announced a quarterly dividend of $0.295 per share, equal to an annualized yield of about 2.2%. Meanwhile, Wall Street remains broadly positive, with a consensus rating of “Moderate Buy” and a price target of $60.67.

Havemeyer Place LP purchased a new position in shares of SLB Limited (NYSE:SLB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 96,433 shares of the oil and gas company's stock, valued at approximately $3,701,000. SLB accounts for about 0.7% of Havemeyer Place LP's holdings, making the stock its 12th largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Strategic Wealth Advisors LLC acquired a new position in SLB during the 4th quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of SLB in the 4th quarter valued at about $31,000. Steph & Co. boosted its holdings in shares of SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock valued at $31,000 after buying an additional 394 shares during the period. Lloyd Advisory Services LLC. acquired a new position in SLB during the 4th quarter valued at about $31,000. Finally, Bruce G. Allen Investments LLC boosted its stake in SLB by 37.0% during the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company's stock valued at $32,000 after purchasing an additional 227 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Stock Performance

SLB stock opened at $54.79 on Friday. The firm has a 50 day moving average of $54.22 and a two-hundred day moving average of $47.80. The company has a quick ratio of 0.98, a current ratio of 1.34 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. The company has a market capitalization of $81.91 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 2.22 and a beta of 0.70.

SLB (NYSE:SLB - Get Free Report) last issued 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 business had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $8.76 billion. During the same period in the previous year, the company earned $0.72 earnings per share. SLB's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts anticipate that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB's payout ratio is presently 51.53%.

Insiders Place Their Bets

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the sale, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SLB. BMO Capital Markets boosted 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. Wall Street Zen downgraded shares of SLB from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Susquehanna lifted their target price on shares of SLB from $60.00 to $65.00 and gave the stock a "positive" rating in a research report on Monday, April 27th. Barclays lifted their target price 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, JPMorgan Chase & Co. boosted their price objective on shares of SLB from $54.00 to $61.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, SLB currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.67.

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.

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