IFM Investors Pty Ltd Sells 27,504 Shares of SLB Limited $SLB

Key Points

• IFM Investors Pty Ltd reduced its SLB stake by 7.4% in the first quarter, selling 27,504 shares and leaving it with 346,004 shares valued at about $17.8 million.
• SLB reported better-than-expected earnings for the latest quarter, posting EPS of $0.52 versus the $0.51 consensus, though revenue came in slightly below estimates at $8.72 billion.
• The company is drawing attention from both institutional investors and analysts: institutional ownership remains high at 81.99%, and Wall Street consensus on SLB is currently a “Moderate Buy” with an average price target of $60.83.

IFM Investors Pty Ltd lowered its position in shares of SLB Limited (NYSE:SLB - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 346,004 shares of the oil and gas company's stock after selling 27,504 shares during the period. IFM Investors Pty Ltd's holdings in SLB were worth $17,781,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fearnley Asset Management AS purchased a new position in shares of SLB in the 4th quarter valued at $8,574,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of SLB by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company's stock worth $126,303,000 after acquiring an additional 128,660 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of SLB during the 1st quarter worth $47,528,000. Cibc World Market Inc. lifted its stake in shares of SLB by 48.7% during the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company's stock worth $52,468,000 after purchasing an additional 447,667 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in SLB by 65.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company's stock valued at $7,898,000 after purchasing an additional 81,045 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Up 0.1%

Shares of SLB stock opened at $46.44 on Wednesday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The stock's fifty day moving average price is $53.99 and its 200 day moving average price is $49.56. 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 cap of $69.44 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. On average, research analysts expect that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Dividend Announcement

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 issued a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. SLB's dividend payout ratio is 51.53%.

Key Headlines Impacting 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, supporting applied research, technology deployment, and digital innovation. This could strengthen long-term revenue visibility and highlights demand for SLB’s energy technology offerings. SLB Awarded Seven-Year Contract Under Kuwait Oil Company's Ahmadi Innovation Valley Initiative
• Positive Sentiment: SLB is also expanding its footprint in Louisiana, with Industrial Realty Group saying the company will occupy more space at its Shreveport campus. While this is not as material as the Kuwait deal, it suggests continued operational expansion and ongoing investment in capacity. IRG Expands Long-Term Lease with SLB in Shreveport, LA, 3.5 Million Sq. Ft. Former GM Facility Now Fully Leased
• Positive Sentiment: Several commentary pieces argue that SLB may be oversold after a sharp recent pullback, and that improving analyst earnings estimates could support a rebound. This may help explain why some investors are starting to view the weakness as a potential buying opportunity. Down 15.3% in 4 Weeks, Here's Why You Should You Buy the Dip in SLB (SLB)
• Neutral Sentiment: Market-watchers also compared SLB with Enpro (NPO) as a value stock. This is more of a valuation discussion than a direct business catalyst, so it is likely limited in near-term stock impact. SLB vs. NPO: Which Stock Is the Better Value Option?
• Negative Sentiment: Despite the positive contract news, SLB has been trading lower over the past several weeks, reflecting recent selling pressure and concern about near-term momentum. That weakness may be capping enthusiasm even as investors wait to see whether new contract wins translate into stronger earnings. SLB (SLB) Stock Sinks As Market Gains: Here's Why

Insider Activity at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president owned 47,421 shares of the company's stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% 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.

Analyst Ratings Changes

SLB has been the topic of several analyst reports. Weiss Ratings lowered SLB from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Morgan Stanley set a $57.00 price target on shares of SLB in a research report on Monday, April 27th. Sanford C. Bernstein raised their price target on shares of SLB from $56.10 to $71.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $61.00 price objective on shares of SLB in a research report on Tuesday, June 16th. Finally, Piper Sandler boosted their price objective on shares of SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.83.

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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