Groupama Asset Managment Sells 35,888 Shares of SLB Limited $SLB

Key Points

• Groupama Asset Management cut its SLB stake by 6.4% in the fourth quarter, selling 35,888 shares and leaving it with 528,807 shares valued at about $20.3 million.
• Several insiders sold shares recently, including EVP Steve Matthew Gassen and Director Patrick De La Chevardiere, while insiders overall own just 0.16% of the stock.
• Analysts remain broadly positive on SLB, with a Moderate Buy consensus and an average price target of $60.83, even as the stock traded down 4.4% to $48.12.

Groupama Asset Managment reduced its position in shares of SLB Limited (NYSE:SLB - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 528,807 shares of the oil and gas company's stock after selling 35,888 shares during the period. Groupama Asset Managment's holdings in SLB were worth $20,294,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Private Wealth Asset Management LLC increased its position in SLB by 4.1% in the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company's stock valued at $193,000 after acquiring an additional 200 shares during the period. Ballentine Partners LLC increased 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 valued at $395,000 after purchasing an additional 218 shares during the period. Bruce G. Allen Investments LLC raised its position in SLB by 37.0% during the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 227 shares during the last quarter. Minot DeBlois Advisors LLC lifted its holdings in SLB by 1.5% during the 4th quarter. Minot DeBlois Advisors LLC now owns 15,298 shares of the oil and gas company's stock worth $587,000 after buying an additional 231 shares during the period. Finally, Rothschild Investment LLC grew its position in shares of SLB by 4.4% in the 4th quarter. Rothschild Investment LLC now owns 5,540 shares of the oil and gas company's stock valued at $213,000 after buying an additional 236 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Insiders Place Their Bets

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the sale, the director directly owned 16,953 shares of the company's stock, valued at approximately $921,056.49. This trade represents 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 insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SLB shares. Morgan Stanley set a $57.00 price target on SLB in a research note on Monday, April 27th. Weiss Ratings cut SLB from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. TD Cowen increased their target price on shares of SLB from $55.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Jefferies Financial Group restated a "buy" rating and set a $65.00 price target on shares of SLB in a report on Sunday, April 26th. Finally, Susquehanna boosted their price target on shares of SLB from $60.00 to $65.00 and gave the stock a "positive" rating in a research report on Monday, April 27th. Three investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $60.83.

Trending Headlines about SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB launched a new Digital Marketplace for AI tools and applications, expanding its digital ecosystem and reinforcing its software growth strategy. SLB Expands Digital Reach With New AI Marketplace Platform
• Positive Sentiment: Management signaled a long-term push to double digital business revenue and core profit by 2030, with reports also highlighting up to $2 billion in digital revenue and $10 billion in annual digital spending opportunities. SLB aims to double digital business revenue up to $2B by 2030
• Positive Sentiment: Traders showed strong bullish positioning, with unusual options activity skewing toward calls and volume running well above normal.
• Neutral Sentiment: SLB received added visibility after CEO Olivier Le Peuch appeared on CNBC with Jim Cramer and the company’s investor-day commentary continued to circulate among investors. SLB CEO Olivier Le Peuch goes one-on-one with Jim Cramer
• Neutral Sentiment: Market interest also picked up after reports noted SLB and Nvidia’s long-running partnership and the company became a trending stock on Zacks, which may be amplifying trading volume. Nvidia's Next Huge Bet: Drill, Baby, Drill!

SLB Stock Down 4.4%

Shares of SLB stock opened at $48.12 on Friday. SLB Limited has a one year low of $31.64 and a one 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 stock's 50-day moving average is $54.77 and its 200 day moving average is $49.03. The firm has a market cap of $71.95 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 2.04 and a beta of 0.70.

SLB (NYSE:SLB - Get Free Report) last issued its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share 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 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 previous year, the company posted $0.72 earnings per share. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts anticipate that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

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

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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