Black Cypress Capital Management LLC Purchases 59,312 Shares of SLB Limited $SLB

Key Points

• Black Cypress Capital Management increased its SLB stake by 24.8% in the fourth quarter, buying 59,312 shares and bringing its total holding to 298,162 shares worth about $11.44 million.
• Wall Street sentiment remains mostly positive, with analysts maintaining or raising ratings and a consensus view of Moderate Buy and an average price target of $59.74.
• SLB reported quarterly EPS of $0.52, slightly above estimates, and announced a quarterly dividend of $0.295 per share, implying a 2.2% annualized yield.

Black Cypress Capital Management LLC boosted its position in shares of SLB Limited (NYSE:SLB - Free Report) by 24.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 298,162 shares of the oil and gas company's stock after buying an additional 59,312 shares during the quarter. SLB makes up approximately 8.0% of Black Cypress Capital Management LLC's holdings, making the stock its 5th largest holding. Black Cypress Capital Management LLC's holdings in SLB were worth $11,443,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of SLB by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after acquiring an additional 1,166 shares during the last quarter. Bison Wealth LLC bought a new stake in shares of SLB during the 4th quarter valued at $238,000. Marshall Wace LLP bought a new stake in shares of SLB during the 2nd quarter valued at $8,628,000. Nebula Research & Development LLC raised its position in shares of SLB by 76.0% during 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 last quarter. Finally, Diversify Advisory Services LLC raised its position 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 during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Evercore reiterated an "outperform" rating and set a $64.00 target price on shares of SLB in a research report on Monday, April 27th. Jefferies Financial Group reiterated a "buy" rating and set a $65.00 target price on shares of SLB in a research report on Sunday, April 26th. Wall Street Zen cut shares of SLB from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Morgan Stanley set a $57.00 price objective on shares of SLB in a research report on Monday, April 27th. Finally, Stifel Nicolaus upped their price objective on shares of 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 issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $59.74.

SLB Price Performance

SLB opened at $54.44 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a fifty day simple moving average of $53.52 and a 200 day simple moving average of $47.12. The stock has a market cap of $81.39 billion, a P/E ratio of 23.77, a P/E/G ratio of 2.21 and a beta of 0.72.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings data 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. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $8.76 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The firm's quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts expect that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio is 51.53%.

Insider Transactions at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the 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 completion of the transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This 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 stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the transaction, the executive vice president 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. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLB Limited (NYSE:SLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.