Adams Natural Resources Fund Inc. Has $12.91 Million Stake in SLB Limited $SLB

Key Points

• Adams Natural Resources Fund trimmed its SLB stake by 5.3% in the fourth quarter, but still held 336,433 shares valued at about $12.9 million, making SLB its 13th-largest position.
• Insider selling was notable, with Director Patrick De La Chevardiere selling 2,000 shares and EVP Steve Matthew Gassen selling 53,379 shares, reducing their holdings materially.
• SLB reported Q1 earnings of $0.52 per share, just above expectations, and the company also announced a quarterly dividend of $0.295 per share, yielding about 2.1% annually.

Adams Natural Resources Fund Inc. decreased its position in shares of SLB Limited (NYSE:SLB - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 336,433 shares of the oil and gas company's stock after selling 18,800 shares during the quarter. SLB makes up approximately 2.0% of Adams Natural Resources Fund Inc.'s portfolio, making the stock its 13th biggest position. Adams Natural Resources Fund Inc.'s holdings in SLB were worth $12,912,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Steph & Co. boosted its holdings in shares of SLB by 97.5% during the 4th 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 in the last quarter. Strategic Wealth Advisors LLC bought a new stake in shares of SLB in the 4th quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SLB in the 4th quarter valued at about $31,000. Lloyd Advisory Services LLC. bought a new stake in shares of SLB in the 4th quarter valued at about $31,000. Finally, Bruce G. Allen Investments LLC grew its position in shares of SLB by 37.0% in 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 buying an additional 227 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Transactions at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the business'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 transaction, the director directly owned 16,953 shares of the company's stock, valued at $921,056.49. The trade was a 10.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business's stock in a transaction dated 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 transaction, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

SLB has been the topic of a number of analyst reports. Jefferies Financial Group reiterated a "buy" rating and issued a $65.00 price target on shares of SLB in a research report on Sunday, April 26th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $61.00 price target on shares of SLB in a research report on Monday, April 27th. Piper Sandler upped their price target on SLB from $53.00 to $59.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. Evercore reiterated an "outperform" rating and issued a $64.00 price target on shares of SLB in a research report on Monday, April 27th. Finally, Stifel Nicolaus upped their price target on SLB from $56.00 to $61.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, SLB presently has a consensus rating of "Moderate Buy" and an average price target of $60.67.

SLB Stock Up 0.0%

Shares of NYSE:SLB opened at $56.03 on Friday. The company has a market capitalization of $83.76 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 2.28 and a beta of 0.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The business's 50-day moving average is $54.64 and its 200-day moving average is $48.51. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82.

SLB (NYSE:SLB - Get Free Report) last announced 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 company 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 firm's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 EPS. Equities research analysts predict that SLB Limited will post 2.62 earnings per share for the current year.

SLB Announces Dividend

The firm 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 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB's 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.

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