Banco Bilbao Vizcaya Argentaria S.A. Cuts Position in SLB Limited $SLB

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. cut its SLB stake by 27.5% in the fourth quarter, selling 266,454 shares and leaving it with 701,054 shares valued at about $27.0 million.
• Several other institutional investors also made sizable moves in SLB, while hedge funds and other institutions still own 81.99% of the company’s stock.
• SLB reported quarterly EPS of $0.52, slightly above estimates, and recently declared a quarterly dividend of $0.295 per share payable July 9, yielding about 2.3% annually.

Banco Bilbao Vizcaya Argentaria S.A. decreased its position in SLB Limited (NYSE:SLB - Free Report) by 27.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 701,054 shares of the oil and gas company's stock after selling 266,454 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in SLB were worth $26,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of SLB during the 4th quarter valued at about $809,557,000. Bank of New York Mellon Corp boosted its holdings in SLB by 64.4% during the 4th quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company's stock valued at $602,444,000 after acquiring an additional 6,149,511 shares during the period. State Street Corp grew its position in SLB by 7.0% in the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company's stock valued at $2,898,037,000 after acquiring an additional 5,466,786 shares during the last quarter. Capital International Investors increased its stake in SLB by 86.9% in the fourth quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company's stock worth $446,247,000 after purchasing an additional 5,404,948 shares during the period. Finally, Greenhaven Associates Inc. purchased a new stake in SLB in the fourth quarter worth $178,883,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SLB. BMO Capital Markets boosted their target price on shares of SLB from $55.00 to $63.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. Wall Street Zen lowered shares of SLB from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Barclays boosted their price objective on shares of SLB from $49.00 to $51.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Susquehanna raised their target price on shares of SLB from $60.00 to $65.00 and gave the stock a "positive" rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $61.00 price target on shares of SLB in a research note on Tuesday. Three 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.67.

Insider Transactions at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the sale, the director owned 16,953 shares of the company's stock, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. 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 SLB 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 owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by company insiders.

SLB Price Performance

NYSE SLB opened at $50.30 on Thursday. The company has a market cap of $75.20 billion, a PE ratio of 21.96, a P/E/G ratio of 2.15 and a beta of 0.70. The firm's 50 day moving average price is $54.81 and its 200-day moving average price is $48.95. 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 52-week low of $31.64 and a 52-week high of $58.82.

SLB (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping 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 net margin of 9.26% and a return on equity of 15.54%. SLB's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Sell-side analysts forecast that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio is 51.53%.

SLB News Roundup

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB said it aims to double digital business revenue to as much as $2 billion by 2030, highlighting a longer-term growth avenue beyond its core oilfield services business. SLB aims to double digital business revenue up to $2B by 2030
• Positive Sentiment: Management also outlined plans for an additional $10 billion in annual digital spending by 2030, reinforcing expectations that SLB’s software and digital offerings could become a more meaningful profit driver. SLB expects additional $10 billion in annual digital spending by 2030
• Positive Sentiment: SLB expanded its AI push with the launch of a digital marketplace, signaling continued investment in higher-margin technology-driven services. SLB expands AI strategy with launch of digital marketplace
• Neutral Sentiment: SLB’s analyst/investor day and CEO Olivier Le Peuch’s appearance with Jim Cramer are adding visibility and could shape sentiment, but these items are mainly informational unless new financial guidance emerges. SLB CEO Olivier Le Peuch goes one-on-one with Jim Cramer SLB N.V. (SLB) Analyst/Investor Day Transcript
• Neutral Sentiment: SLB is also trending on investor-watch lists and in market commentary, which may be adding short-term trading interest rather than changing the fundamental outlook. Jim Cramer Points to SLB for Critical Insights Into International Oil Production Here is What to Know Beyond Why SLB Limited (SLB) is a Trending Stock
• Negative Sentiment: Despite the positive strategic narrative, the stock has been trading lower recently, suggesting investors may still be weighing execution risk and broader sentiment toward energy services.

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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