ABC Arbitrage SA Buys New Position in SLB Limited $SLB

ABC Arbitrage SA purchased a new position in SLB Limited (NYSE:SLB - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 31,651 shares of the oil and gas company's stock, valued at approximately $1,627,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. MV Capital Management Inc. bought a new position in shares of SLB in the fourth quarter worth approximately $28,000. Strategic Wealth Advisors LLC bought a new position in SLB in the 4th quarter worth $30,000. Costello Asset Management INC boosted its holdings in SLB by 93.3% in the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company's stock worth $30,000 after buying an additional 280 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in SLB in the 4th quarter worth $31,000. Finally, Steph & Co. increased its stake in SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock worth $31,000 after buying an additional 394 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Stock Performance

Shares of NYSE:SLB opened at $47.38 on Tuesday. The firm has a fifty day simple moving average of $52.46 and a two-hundred day simple moving average of $50.05. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $70.83 billion, a P/E ratio of 20.69, a PEG ratio of 1.94 and a beta of 0.72.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. The business 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. On average, analysts expect that SLB Limited will post 2.59 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd were issued a $0.295 dividend. 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 presently 51.53%.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the firm'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 transaction of $108,660.00. Following the transaction, the director directly owned 16,953 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this link. 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 sale, the executive vice president directly owned 47,421 shares of the company's stock, valued at $2,664,111.78. This represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

SLB has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on SLB from $54.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. Royal Bank Of Canada restated an "outperform" rating and issued a $61.00 price target on shares of SLB in a research note on Tuesday, June 16th. UBS Group cut their price objective on shares of SLB from $69.00 to $66.00 and set a "buy" rating for the company in a report on Wednesday, July 1st. Wolfe Research started coverage on shares of SLB in a research report on Wednesday, July 8th. They set an "outperform" rating and a $62.00 price objective on the stock. Finally, Weiss Ratings downgraded shares of SLB from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Two equities 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. According to data from MarketBeat.com, SLB presently has an average rating of "Moderate Buy" and an average 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.

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