Eurizon Capital SGR S.p.A. Takes $9.12 Million Position in SLB Limited $SLB

Key Points

• Eurizon Capital SGR S.p.A. bought a new stake in SLB during the fourth quarter, purchasing 237,444 shares valued at about $9.12 million.
• SLB reported Q1 earnings of $0.52 per share, slightly ahead of estimates, while revenue came in at $8.72 billion, just below expectations. The company also said revenue rose 2.7% year over year.
• SLB declared a quarterly dividend of $0.295 per share, payable July 9, implying an annualized yield of 2.2%. Meanwhile, analysts remain broadly positive with a consensus rating of Moderate Buy and a price target of $59.74.

Eurizon Capital SGR S.p.A. purchased a new stake in shares of SLB Limited (NYSE:SLB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 237,444 shares of the oil and gas company's stock, valued at approximately $9,116,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strategic Wealth Advisors LLC purchased a new stake in SLB in the 4th quarter worth approximately $30,000. Strengthening Families & Communities LLC purchased a new stake in SLB in the 3rd quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in SLB in the 4th quarter worth approximately $31,000. Steph & Co. increased its holdings in 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 acquiring an additional 394 shares in the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new stake in SLB in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Trading Down 0.2%

SLB stock opened at $54.44 on Monday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The company has a market capitalization of $81.39 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 2.21 and a beta of 0.70. The business has a 50 day simple moving average of $53.52 and a two-hundred day simple moving average of $47.19.

SLB (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the prior year, the company posted $0.72 EPS. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts anticipate that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently declared 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 yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio is presently 51.53%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SLB. Morgan Stanley set a $57.00 target price on shares of SLB in a report on Monday, April 27th. The Goldman Sachs Group increased their target price on shares of SLB from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. Weiss Ratings lowered shares of SLB from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Barclays increased their target price on shares of SLB from $49.00 to $51.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Finally, BMO Capital Markets increased their target price on shares of SLB from $55.00 to $63.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.74.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the 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 completion of the transaction, the director directly 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 legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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 $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by corporate 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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