ExodusPoint Capital Management LP Has $26.45 Million Stake in SLB Limited $SLB

Key Points

• ExodusPoint Capital Management increased its SLB holdings by 12% in the fourth quarter, ending with 689,185 shares valued at about $26.45 million.
• SLB reported quarterly EPS of $0.52, slightly beating estimates, while revenue came in at $8.72 billion, up 2.7% year over year but just below consensus.
• The company declared a quarterly dividend of $0.295 per share to be paid July 9, and analysts currently rate the stock a Moderate Buy with an average target price of $60.67.

ExodusPoint Capital Management LP grew its holdings in SLB Limited (NYSE:SLB - Free Report) by 12.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 689,185 shares of the oil and gas company's stock after purchasing an additional 73,678 shares during the period. ExodusPoint Capital Management LP's holdings in SLB were worth $26,451,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Steph & Co. increased its holdings 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 valued at $31,000 after purchasing an additional 394 shares during the period. Strategic Wealth Advisors LLC acquired a new position in shares of SLB in the 4th quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of SLB in the 4th quarter valued at about $31,000. Lloyd Advisory Services LLC. acquired a new position in shares of SLB in the 4th quarter valued at about $31,000. Finally, Bruce G. Allen Investments LLC increased its holdings in shares of SLB by 37.0% in the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company's stock valued at $32,000 after purchasing an additional 227 shares during the period. 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 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 transaction, the director owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company's stock.

SLB Trading Down 1.2%

NYSE:SLB opened at $53.06 on Wednesday. The stock's 50 day moving average price is $54.80 and its 200 day moving average price is $48.84. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a market capitalization of $79.33 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.18 and a beta of 0.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping 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 firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. On average, research analysts forecast that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. 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 (DPR) is 51.53%.

Analysts Set New Price Targets

SLB has been the topic of a number of research reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $61.00 target price on shares of SLB in a report on Tuesday. Stifel Nicolaus upped their target price on SLB from $56.00 to $61.00 and gave the company a "buy" rating in a report on Monday, April 27th. BMO Capital Markets increased their price objective on SLB from $55.00 to $63.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. Sanford C. Bernstein increased their price objective on SLB from $56.10 to $71.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Finally, Weiss Ratings downgraded SLB from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Three equities research 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $60.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.