Impact Partnership Wealth LLC Invests $1.50 Million in SLB Limited $SLB

Key Points

• Impact Partnership Wealth LLC opened a new position in SLB during the first quarter, buying 29,164 shares worth about $1.5 million.
• SLB reported quarterly EPS of $0.52, slightly beating estimates, while revenue came in at $8.72 billion, just below expectations but still up 2.7% year over year.
• The company announced a quarterly dividend of $0.295 per share and also received a seven-year contract from Kuwait Oil Company, a potential boost to long-term revenue visibility.

Impact Partnership Wealth LLC purchased a new stake in shares of SLB Limited (NYSE:SLB - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 29,164 shares of the oil and gas company's stock, valued at approximately $1,499,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. MV Capital Management Inc. acquired a new stake in shares of SLB during the fourth quarter valued at about $28,000. Strategic Wealth Advisors LLC acquired a new position in shares of SLB in the fourth quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in SLB in the fourth quarter valued at about $31,000. Steph & Co. boosted its holdings in SLB by 97.5% in the fourth 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. acquired a new stake in SLB during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Activity

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the firm's stock in a transaction dated Thursday, May 7th. The shares were 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 of the company's stock, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company's stock.

SLB Price Performance

Shares of SLB opened at $46.44 on Wednesday. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The firm has a market cap of $69.44 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.86 and a beta of 0.70. The stock has a 50 day moving average of $53.99 and a 200-day moving average of $49.56.

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

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio (DPR) is presently 51.53%.

Key SLB News

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SLB. Wall Street Zen lowered SLB from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Royal Bank Of Canada reissued an "outperform" rating and set a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. Evercore restated an "outperform" rating and issued a $64.00 price target on shares of SLB in a research note on Monday, April 27th. BMO Capital Markets increased their price objective on shares of SLB from $55.00 to $63.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. Finally, Morgan Stanley set a $57.00 price objective on shares of SLB in a report on Monday, April 27th. Two 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.83.

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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