Greenwood Capital Associates LLC Makes New Investment in SLB Limited $SLB

Key Points

• Greenwood Capital Associates disclosed a new first-quarter position in SLB, buying 89,482 shares valued at about $4.6 million.
• SLB reported Q1 EPS of $0.52, narrowly beating estimates, while revenue came in at $8.72 billion, slightly below expectations but up 2.7% year over year.
• Analyst sentiment remains broadly positive, with a Moderate Buy consensus and an average price target of $59.74; the company also announced a quarterly dividend of $0.295 per share.

Greenwood Capital Associates LLC bought a new position in SLB Limited (NYSE:SLB - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 89,482 shares of the oil and gas company's stock, valued at approximately $4,598,000.

A number of other institutional investors have also recently made changes to their positions in the business. MV Capital Management Inc. purchased a new stake in SLB during the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC purchased a new position in shares of SLB in the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SLB during the 4th quarter valued at approximately $31,000. Steph & Co. increased its position in shares of SLB by 97.5% during 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 last quarter. Finally, Lloyd Advisory Services LLC. purchased a new stake in SLB during the 4th quarter valued at $31,000. Institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SLB shares. Sanford C. Bernstein raised their price target on SLB from $56.10 to $71.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Royal Bank Of Canada restated an "outperform" rating and issued a $61.00 target price on shares of SLB in a report on Tuesday, June 16th. Citigroup dropped their price target on shares of SLB from $68.00 to $63.00 and set a "buy" rating for the company in a research note on Wednesday, July 1st. Evercore reissued an "outperform" rating and issued a $64.00 price objective on shares of SLB in a research report on Monday, April 27th. Finally, Barclays raised their price objective on shares of SLB from $49.00 to $51.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $59.74.

SLB Stock Up 1.9%

NYSE:SLB opened at $47.32 on Thursday. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The company has a market cap of $70.74 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. The stock has a fifty day simple moving average of $52.98 and a 200-day simple moving average of $49.85. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $8.72 billion for the quarter, compared to analysts' expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. Analysts anticipate that SLB Limited will post 2.6 EPS for the current year.

SLB Dividend Announcement

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

Insider Transactions at SLB

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm's stock in a transaction 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 owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by corporate insiders.

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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