Harbor Investment Advisory LLC Purchases 25,108 Shares of SLB Limited $SLB

Key Points

• Harbor Investment Advisory LLC sharply increased its SLB stake by 1,607.4% in the first quarter, buying 25,108 additional shares and bringing its total holding to 26,670 shares worth about $1.37 million.
• Insider selling was notable, with EVP Steve Matthew Gassen selling 53,379 shares and Director La Chevardiere Patrick De selling 2,000 shares in May. Insiders now own just 0.16% of the company.
• SLB reported better-than-expected quarterly EPS of $0.52, slightly above analysts’ estimate, while revenue came in just below forecasts. The company also declared a quarterly dividend of $0.295 per share, implying a 2.6% yield.

Harbor Investment Advisory LLC boosted its holdings in SLB Limited (NYSE:SLB - Free Report) by 1,607.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,670 shares of the oil and gas company's stock after purchasing an additional 25,108 shares during the quarter. Harbor Investment Advisory LLC's holdings in SLB were worth $1,371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC raised its holdings in shares of SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after acquiring an additional 1,166 shares during the last quarter. Bison Wealth LLC acquired a new position in SLB during the 4th quarter valued at about $238,000. Marshall Wace LLP bought a new stake in SLB during the 2nd quarter worth approximately $8,628,000. Nebula Research & Development LLC increased its holdings in SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company's stock worth $824,000 after purchasing an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its stake in shares of SLB by 7.6% in the second quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company's stock worth $373,000 after purchasing an additional 799 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Insiders Place Their Bets

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were 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 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 filing with the SEC, which is accessible through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction dated 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 sale, 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 disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company's stock.

SLB Stock Performance

SLB stock opened at $45.12 on Thursday. The firm has a market cap of $67.46 billion, a PE ratio of 19.70, a P/E/G ratio of 1.87 and a beta of 0.73. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $53.85 and a 200-day moving average of $49.59. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82.

SLB (NYSE:SLB - Get Free Report) last issued 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. 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 analyst estimates of $8.76 billion. During the same period last year, the company posted $0.72 earnings per share. SLB's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts expect that SLB Limited will post 2.62 earnings per share for the current year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, June 3rd. SLB's payout ratio is presently 51.53%.

Trending Headlines about SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB won a seven-year contract from Kuwait Oil Company under the Ahmadi Innovation Valley initiative, a deal that should support applied research, technology deployment and digital innovation work over a long period. SLB Awarded Seven-Year Contract Under Kuwait Oil Company's Ahmadi Innovation Valley Initiative
• Positive Sentiment: Industrial Realty Group said SLB expanded its long-term lease in Shreveport, showing continued operational growth and commitment to the site. IRG Expands Long-Term Lease with SLB in Shreveport, LA
• Positive Sentiment: Citigroup lowered its price target to $63 from $68, but kept a Buy rating, signaling the stock still has meaningful upside from current levels. Benzinga report on Citigroup price target cut
• Neutral Sentiment: Several commentary pieces argued SLB may be oversold after a sharp multi-week selloff, with analysts still revising earnings estimates higher; this could help support a rebound, but it is not a direct catalyst. Down 15.3% in 4 Weeks, Here's Why You Should You Buy the Dip in SLB (SLB)
• Neutral Sentiment: Multiple articles compared SLB with other stocks on valuation, which is generally more of a discussion topic than a direct stock-moving event. SLB vs. NPO: Which Stock Is the Better Value Option?
• Negative Sentiment: News that a peace deal in Iran is pressuring oil prices is hurting the energy complex and contributing to weakness in SLB. This Energy Stock Tops My July Buy List
• Negative Sentiment: One market note highlighted SLB’s recent weakness and said the stock continues to trade lower as broader market conditions and oil-related concerns remain in focus. SLB (SLB) Stock Sinks As Market Gains: Here's Why

Analyst Ratings Changes

A number of research analysts have recently weighed in on SLB shares. Barclays raised their target price on SLB from $49.00 to $51.00 and gave the company an "overweight" rating in a report on Monday, April 27th. JPMorgan Chase & Co. increased their price target on SLB from $54.00 to $61.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. TD Cowen dropped their price objective on SLB from $66.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday. Citigroup cut their price objective on shares of SLB from $68.00 to $63.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Morgan Stanley set a $57.00 target price on shares of SLB in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $60.17.

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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