Capital Innovations LLC Purchases Shares of 531,546 SLB Limited $SLB

Key Points

• Capital Innovations LLC opened a new position in SLB during the fourth quarter, buying 531,546 shares worth about $20.4 million. The stake now represents roughly 5.8% of its portfolio, making SLB its second-largest holding.
• Several other hedge funds also increased their SLB holdings, and institutional investors now own 81.99% of the company. Meanwhile, insiders were active sellers, including a director and an EVP who reduced their positions in May.
• Analysts remain broadly positive on SLB, with multiple firms raising price targets and the consensus rating at Moderate Buy. The stock was trading up 3.3%, and SLB also reported quarterly EPS of $0.52, slightly beating expectations, while announcing a $0.295 quarterly dividend.

Capital Innovations LLC purchased a new stake in SLB Limited (NYSE:SLB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 531,546 shares of the oil and gas company's stock, valued at approximately $20,401,000. SLB makes up approximately 5.8% of Capital Innovations LLC's investment portfolio, making the stock its 2nd largest holding.

A number of other hedge funds also recently bought and sold shares of the stock. Ballentine Partners LLC increased its holdings in shares of SLB by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company's stock valued at $395,000 after acquiring an additional 218 shares during the last quarter. Rothschild Investment LLC increased its holdings in shares of SLB by 4.4% in the 4th quarter. Rothschild Investment LLC now owns 5,540 shares of the oil and gas company's stock valued at $213,000 after acquiring an additional 236 shares during the last quarter. Foster Victor Wealth Advisors LLC increased its holdings in shares of SLB by 3.0% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 8,281 shares of the oil and gas company's stock valued at $318,000 after acquiring an additional 238 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of SLB by 10.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,641 shares of the oil and gas company's stock valued at $101,000 after acquiring an additional 240 shares during the last quarter. Finally, Independent Advisor Alliance increased its holdings in shares of SLB by 1.9% in the 4th quarter. Independent Advisor Alliance now owns 13,402 shares of the oil and gas company's stock valued at $514,000 after acquiring an additional 247 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Activity at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction that occurred on 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SLB shares. Stifel Nicolaus increased their price objective on SLB from $56.00 to $61.00 and gave the company a "buy" rating in a report on Monday, April 27th. Susquehanna increased their price objective on SLB from $60.00 to $65.00 and gave the company a "positive" rating in a report on Monday, April 27th. Weiss Ratings downgraded SLB from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a "buy" rating and issued a $65.00 price objective on shares of SLB in a report on Sunday, April 26th. Finally, TD Cowen raised their price target on SLB from $55.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.74.

SLB Trading Up 3.3%

NYSE:SLB opened at $56.57 on Wednesday. The stock's 50 day moving average price is $53.66 and its 200 day moving average price is $47.32. The company has a market capitalization of $84.58 billion, a PE ratio of 24.70, a P/E/G ratio of 2.22 and a beta of 0.70. 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 52-week low of $31.64 and a 52-week high of $58.82.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. The firm had revenue of $8.72 billion for 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%.The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. On average, research analysts anticipate that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio (DPR) is 51.53%.

SLB 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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