Bleakley Financial Group LLC Has $5.54 Million Position in SLB Limited $SLB

Key Points

• Bleakley Financial Group increased its stake in SLB by 190.4% in the first quarter, ending with 107,890 shares worth about $5.54 million. Institutional ownership remains heavy, with funds and hedge funds holding 81.99% of the stock.
• SLB reported Q1 earnings of $0.52 per share, edging past expectations, while revenue came in slightly below estimates at $8.72 billion. The company also raised attention with a quarterly dividend of $0.295 per share, or $1.18 annually for a 2.5% yield.
• Recent developments are seen as growth drivers: SLB formed a strategic alliance with Liberty Energy to support data center infrastructure and its OneSubsea JV won a major EPC contract from Eni for the Baleine deepwater project. Analysts remain broadly positive, with a Moderate Buy consensus and an average price target of $59.80.

Bleakley Financial Group LLC lifted its position in shares of SLB Limited (NYSE:SLB - Free Report) by 190.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,890 shares of the oil and gas company's stock after purchasing an additional 70,736 shares during the period. Bleakley Financial Group LLC's holdings in SLB were worth $5,544,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SLB. Fearnley Asset Management AS bought a new stake in shares of SLB during the 4th quarter worth about $8,574,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in SLB by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company's stock valued at $126,303,000 after buying an additional 128,660 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in SLB in the 1st quarter valued at about $47,528,000. Cibc World Market Inc. raised its holdings in SLB by 48.7% in the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company's stock valued at $52,468,000 after acquiring an additional 447,667 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in SLB by 65.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company's stock worth $7,898,000 after acquiring an additional 81,045 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Up 0.4%

Shares of SLB opened at $47.56 on Wednesday. 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 Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The firm's 50 day moving average is $52.29 and its 200-day moving average is $50.11. The stock has a market capitalization of $71.11 billion, a PE ratio of 20.77, a P/E/G ratio of 1.92 and a beta of 0.72.

SLB (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. Equities research analysts forecast that SLB Limited will post 2.59 EPS for the current year.

SLB Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. TD Cowen reduced their price objective on SLB from $66.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, July 1st. JPMorgan Chase & Co. lifted their price target on SLB from $54.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Morgan Stanley set a $57.00 price target on SLB in a report on Monday, April 27th. Jefferies Financial Group restated a "buy" rating and issued a $65.00 price target on shares of SLB in a research note on Sunday, April 26th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $61.00 price objective on shares of SLB in a research report on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given 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 company presently has a consensus rating of "Moderate Buy" and an average price target of $59.80.

Key Stories Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB announced a strategic alliance with Liberty Energy to provide modular infrastructure and integrated power generation solutions for new data center projects worldwide, giving investors a new growth angle tied to AI-driven power demand. SLB, Liberty Energy to Form Strategic Alliance for Data Center Infrastructure and Power
• Positive Sentiment: SLB’s OneSubsea joint venture won a major EPC contract from Eni for Phase 3 of the Baleine deepwater project offshore Côte d’Ivoire, strengthening its subsea backlog and supporting long-term offshore revenue visibility. SLB OneSubsea Awarded EPC Contract for Eni’s Baleine Phase 3 Project Offshore Côte d'Ivoire
• Positive Sentiment: Additional reports said SLB shares edged higher as investors reacted to the Liberty Energy deal, with the market viewing the partnership as a way for SLB to capitalize on surging data center power demand. Reuters article on SLB partners with Liberty Energy to supply modular parts, power to data centers

Insiders Place Their Bets

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the business's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director owned 16,953 shares of the company's stock, valued at $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The transaction 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 the company's stock in a transaction dated 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 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 position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by company insiders.

SLB Company 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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