Impala Asset Management LLC Acquires New Stake in SLB Limited $SLB

Key Points

• Impala Asset Management opened a new position in SLB, buying 157,284 shares valued at about $8.08 million. The stake now represents 3.8% of Impala’s portfolio and is its 9th-largest holding.
• Insiders sold shares recently, including EVP Steve Matthew Gassen and Director La Chevardiere Patrick De, while institutional ownership remains high at 81.99%.
• SLB beat quarterly EPS expectations slightly, posting $0.52 per share versus the $0.51 estimate, though revenue came in just below forecasts. Analysts remain broadly positive, with a Moderate Buy consensus and an average price target of $60.30.

Impala Asset Management LLC acquired a new position in shares of SLB Limited (NYSE:SLB - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 157,284 shares of the oil and gas company's stock, valued at approximately $8,083,000. SLB makes up 3.8% of Impala Asset Management LLC's investment portfolio, making the stock its 9th biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in SLB. Evergreen Advisors LLC acquired a new stake in shares of SLB during the 1st quarter worth about $26,000. MV Capital Management Inc. purchased a new stake in shares of SLB during the fourth quarter worth about $28,000. Strategic Wealth Advisors LLC acquired a new position in shares of SLB in the fourth quarter valued at approximately $30,000. Costello Asset Management INC raised its position in shares of SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company's stock valued at $30,000 after buying an additional 280 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of SLB during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.99% of the company's stock.

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 transaction of $2,998,832.22. Following the transaction, the executive vice president directly 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 legal filing with the SEC, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company's stock.

SLB Price Performance

SLB opened at $47.72 on Thursday. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. The company's 50 day simple moving average is $51.39 and its 200 day simple moving average is $50.49. The stock has a market capitalization of $71.34 billion, a PE ratio of 20.84, a P/E/G ratio of 1.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34.

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 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. As a group, sell-side analysts expect that SLB Limited will post 2.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SLB. Wolfe Research started coverage on shares of SLB in a research report on Wednesday, July 8th. They set an "outperform" rating and a $62.00 target price on the stock. TD Cowen reduced their price target on SLB from $66.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. JPMorgan Chase & Co. increased their price target on SLB from $54.00 to $61.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. 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, Raymond James Financial dropped their target price on SLB from $62.00 to $61.00 and set an "outperform" rating for the company in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.30.

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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