Commerzbank Aktiengesellschaft FI Grows Position in SLB Limited $SLB

Key Points

• Commerzbank Aktiengesellschaft FI boosted its stake in SLB by 19.2% in the fourth quarter, ending with 180,047 shares valued at about $6.91 million.
• SLB reported quarterly earnings of $0.52 per share, edging past expectations, while revenue came in at $8.72 billion and rose 2.7% year over year.
• The company announced a quarterly dividend of $0.295 per share, payable July 9, which works out to an annualized yield of about 2.1%.

Commerzbank Aktiengesellschaft FI increased its holdings in SLB Limited (NYSE:SLB - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 180,047 shares of the oil and gas company's stock after acquiring an additional 29,055 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in SLB were worth $6,910,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SLB. Ballentine Partners LLC raised its holdings in SLB by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company's stock worth $395,000 after purchasing an additional 218 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in SLB by 3.0% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 8,281 shares of the oil and gas company's stock worth $318,000 after purchasing an additional 238 shares in the last quarter. Independent Advisor Alliance raised its holdings in SLB by 1.9% in the fourth quarter. Independent Advisor Alliance now owns 13,402 shares of the oil and gas company's stock worth $514,000 after purchasing an additional 247 shares in the last quarter. Avidian Wealth Enterprises LLC raised its holdings in SLB by 1.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,574 shares of the oil and gas company's stock worth $636,000 after purchasing an additional 254 shares in the last quarter. Finally, apricus wealth LLC raised its holdings in SLB by 0.3% in the fourth quarter. apricus wealth LLC now owns 84,740 shares of the oil and gas company's stock worth $3,252,000 after purchasing an additional 270 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the firm's stock in a transaction that occurred 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 completion of 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. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, the director directly owned 16,953 shares of the company's stock, valued at $921,056.49. This represents a 10.55% 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.

SLB Stock Performance

Shares of SLB stock opened at $55.33 on Friday. The firm has a market capitalization of $82.72 billion, a P/E ratio of 24.16, a PEG ratio of 3.92 and a beta of 0.72. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average price of $51.44 and a 200 day moving average price of $45.70. SLB Limited has a 52 week low of $31.64 and a 52 week high of $57.20.

SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. SLB's revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.72 EPS. Sell-side analysts expect that SLB Limited will post 2.61 EPS for the current 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 given a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB's dividend payout ratio (DPR) is presently 51.53%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SLB. Weiss Ratings downgraded SLB from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Freedom Capital downgraded SLB from a "hold" rating to a "strong sell" rating in a research report on Tuesday, January 27th. Piper Sandler upped their price target on SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Evercore reaffirmed an "outperform" rating and set a $64.00 price target on shares of SLB 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 report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, SLB currently has an average rating of "Moderate Buy" and a consensus target price of $59.74.

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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