Employees Provident Fund Board Buys Shares of 2,797,057 SLB Limited $SLB

Key Points

• Employees Provident Fund Board initiated a new position in SLB Limited during the fourth quarter, buying 2,797,057 shares worth about $107.35 million. The fund now owns roughly 0.19% of the company.
• SLB reported Q1 earnings of $0.52 per share, slightly topping estimates, while revenue came in at $8.72 billion, just below expectations but still up 2.7% year over year. Analysts currently expect full-year EPS of $2.62.
• The company declared a quarterly dividend of $0.295 per share, payable July 9, representing a 2.5% annualized yield. Meanwhile, Wall Street remains broadly positive, with a consensus rating of Moderate Buy and an average price target of $60.83.

Employees Provident Fund Board purchased a new position in shares of SLB Limited (NYSE:SLB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,797,057 shares of the oil and gas company's stock, valued at approximately $107,351,000. Employees Provident Fund Board owned approximately 0.19% of SLB at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SLB. MV Capital Management Inc. bought a new position in SLB during the 4th quarter valued at $28,000. Steph & Co. raised its stake in shares of SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock worth $31,000 after buying an additional 394 shares in the last quarter. Strategic Wealth Advisors LLC bought a new stake in shares of SLB in the 4th quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB in the fourth quarter valued at $31,000. Finally, Lloyd Advisory Services LLC. bought a new position in SLB during the fourth quarter valued at about $31,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 47,421 shares of the company's stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.16% of the company's stock.

SLB Price Performance

Shares of NYSE:SLB opened at $48.12 on Friday. The company's fifty day moving average is $54.69 and its two-hundred day moving average is $49.02. 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 market cap of $71.95 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 1.95 and a beta of 0.70.

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 for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. SLB's revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts expect that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SLB. Barclays lifted their target price on SLB from $49.00 to $51.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. BMO Capital Markets lifted their price target on shares of SLB from $55.00 to $63.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. Evercore reaffirmed an "outperform" rating and issued a $64.00 price target on shares of SLB in a report on Monday, April 27th. TD Cowen increased their price objective on SLB from $55.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $65.00 price objective on shares of SLB in a research note on Sunday, April 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, SLB currently has a consensus rating of "Moderate Buy" and an average price target of $60.83.

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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