Adams Natural Resources Fund Inc. Has $28.40 Million Position in SLB Limited $SLB

Key Points

• Adams Natural Resources Fund boosted its SLB stake by 64.3% in the first quarter, buying 216,200 additional shares and bringing its total holding to 552,633 shares worth about $28.4 million.
• Wall Street sentiment on SLB remains constructive: several firms raised price targets, and the stock currently has a consensus “Moderate Buy” rating with a target price of $60.83.
• SLB recently reported quarterly EPS of $0.52, slightly beating estimates, and it also declared a quarterly dividend of $0.295 per share, implying an annualized yield of about 2.5%.

Adams Natural Resources Fund Inc. increased its position in SLB Limited (NYSE:SLB - Free Report) by 64.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 552,633 shares of the oil and gas company's stock after acquiring an additional 216,200 shares during the quarter. SLB comprises 3.3% of Adams Natural Resources Fund Inc.'s investment portfolio, making the stock its 5th largest holding. Adams Natural Resources Fund Inc.'s holdings in SLB were worth $28,400,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new position in shares of SLB in the fourth quarter worth about $28,000. Strategic Wealth Advisors LLC purchased a new position in shares of SLB in the fourth quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SLB during the 4th quarter valued at $31,000. Steph & Co. lifted its holdings in SLB by 97.5% during the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 394 shares in the last quarter. Finally, Lloyd Advisory Services LLC. bought a new position in SLB in the 4th quarter worth about $31,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on SLB. Susquehanna upped their price target on SLB from $60.00 to $65.00 and gave the company a "positive" rating in a research report on Monday, April 27th. TD Cowen upped their target price on shares of SLB from $55.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $61.00 target price on shares of SLB in a research note on Tuesday, June 16th. The Goldman Sachs Group boosted their price target on shares of SLB from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Finally, Barclays upped their price target on shares of SLB from $49.00 to $51.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Three 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.83.

SLB Price Performance

Shares of NYSE:SLB opened at $46.95 on Friday. The company's fifty day moving average price is $54.22 and its 200-day moving average price is $49.37. The firm has a market capitalization of $70.19 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.89 and a beta of 0.70. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company's revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid 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 2.5%. SLB's dividend payout ratio (DPR) is 51.53%.

Insider Activity at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction 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 owned 16,953 shares of the company's stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business's stock in a transaction 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 completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company 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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