AlphaCore Capital LLC Invests $820,000 in SLB Limited $SLB

Key Points

• AlphaCore Capital LLC opened a new position in SLB during the fourth quarter, buying 21,232 shares worth about $820,000.
• Institutional ownership remains heavy, with 81.99% of SLB shares held by institutional investors; several large funds, including Vanguard and State Street, also increased their stakes.
• SLB reported better-than-expected quarterly EPS of $0.52 and raised investor attention with a new quarterly dividend of $0.295 per share, while analysts currently view the stock as a Moderate Buy.

AlphaCore Capital LLC acquired a new position in SLB Limited (NYSE:SLB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 21,232 shares of the oil and gas company's stock, valued at approximately $820,000.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of SLB by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company's stock worth $7,156,177,000 after buying an additional 1,080,999 shares in the last quarter. State Street Corp boosted its holdings in shares of SLB by 7.0% during 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 buying an additional 5,466,786 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of SLB by 0.6% during the 4th quarter. First Eagle Investment Management LLC now owns 27,718,458 shares of the oil and gas company's stock worth $1,063,834,000 after buying an additional 174,564 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of SLB by 25.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company's stock worth $528,217,000 after buying an additional 3,094,764 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of SLB by 10.7% during the 3rd quarter. Northern Trust Corp now owns 15,359,990 shares of the oil and gas company's stock worth $527,923,000 after buying an additional 1,490,859 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm'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 trade represents a 52.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm's stock in a transaction 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 sale, the director directly owned 16,953 shares of the company's stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company's stock.

Analyst Ratings Changes

SLB has been the topic of a number of research analyst reports. Jefferies Financial Group restated a "buy" rating and set a $65.00 price target on shares of SLB in a report on Sunday, April 26th. Stifel Nicolaus increased their price target on SLB from $56.00 to $61.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Barclays increased their target price on SLB from $49.00 to $51.00 and gave the stock an "overweight" 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 report on Monday, April 27th. Finally, Loop Capital set a $48.00 target price on SLB in a report on Tuesday, January 27th. Three equities research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $59.74.

SLB Trading Up 3.3%

NYSE SLB opened at $57.22 on Tuesday. The firm has a market capitalization of $85.55 billion, a P/E ratio of 24.99, a PEG ratio of 3.90 and a beta of 0.72. The business has a fifty day simple moving average of $51.64 and a 200 day simple moving average of $45.92. SLB Limited has a 12 month low of $31.64 and a 12 month high of $57.59. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.SLB's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. On average, analysts predict that SLB Limited will post 2.61 EPS for the current fiscal year.

SLB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB's dividend payout ratio is presently 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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