Aware Super Pty Ltd as trustee of Aware Super Purchases Shares of 100,735 SLB Limited $SLB

Key Points

• Aware Super disclosed a new first-quarter position in SLB, buying 100,735 shares valued at about $5.18 million.
• SLB reported Q1 earnings of $0.52 per share, slightly ahead of estimates, while revenue came in at $8.72 billion, just below forecasts but still up 2.7% year over year.
• The company recently paid a quarterly dividend of $0.295 per share and has a 2.5% annualized yield; meanwhile, analysts remain broadly positive with a Moderate Buy consensus and an average target price of $60.30.

Aware Super Pty Ltd as trustee of Aware Super acquired a new position in SLB Limited (NYSE:SLB - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 100,735 shares of the oil and gas company's stock, valued at approximately $5,177,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its position in SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after buying an additional 1,166 shares in the last quarter. Bison Wealth LLC acquired a new stake in shares of SLB in the fourth quarter worth $238,000. Marshall Wace LLP purchased a new position in shares of SLB in the 2nd quarter valued at $8,628,000. Nebula Research & Development LLC raised its stake in shares of SLB by 76.0% in the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company's stock valued at $824,000 after acquiring an additional 10,522 shares during the period. Finally, Diversify Advisory Services LLC lifted its holdings in shares of SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company's stock valued at $373,000 after acquiring an additional 799 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was 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 in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president directly owned 47,421 shares of the company's stock, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by company insiders.

SLB Trading Down 0.1%

NYSE SLB opened at $47.01 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The company has a 50-day simple moving average of $51.90 and a 200-day simple moving average of $50.22. The firm has a market capitalization of $70.29 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.89 and a beta of 0.72.

SLB (NYSE:SLB - Get Free Report) last issued its 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 company had revenue of $8.72 billion during 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%.SLB's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share. On average, equities analysts forecast that SLB Limited will post 2.53 earnings per share for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd were paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, June 3rd. SLB's dividend payout ratio is presently 51.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SLB shares. UBS Group reduced their price objective on SLB from $69.00 to $66.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. Morgan Stanley reiterated an "overweight" rating and issued a $54.00 target price on shares of SLB in a research note on Wednesday. TD Cowen dropped their target price on SLB from $66.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, July 1st. Citigroup reduced their price target on SLB from $68.00 to $63.00 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Finally, Sanford C. Bernstein upped their price target on SLB from $56.10 to $71.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.30.

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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