Keybank National Association OH Increases Stake in SLB Limited $SLB

Key Points

• Keybank National Association OH boosted its SLB stake by 33.8% in the first quarter, adding 38,545 shares and bringing its total holding to 152,496 shares worth about $7.84 million.
• SLB saw mixed insider activity, with EVP Steve Matthew Gassen selling 53,379 shares and Director Patrick De La Chevardiere selling 2,000 shares; insiders now own just 0.16% of the company.
• Analysts remain cautiously positive on SLB, with a consensus rating of Moderate Buy and an average price target of $60.17. The company also reported quarterly EPS of $0.52, slightly ahead of estimates, and declared a $0.295 quarterly dividend.

Keybank National Association OH increased its position in shares of SLB Limited (NYSE:SLB - Free Report) by 33.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 152,496 shares of the oil and gas company's stock after purchasing an additional 38,545 shares during the period. Keybank National Association OH's holdings in SLB were worth $7,837,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. MV Capital Management Inc. bought a new position in shares of SLB during the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC bought a new stake in shares of SLB during the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in SLB during the 4th quarter valued at $31,000. Steph & Co. grew its position in SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 394 shares during the last quarter. Finally, Lloyd Advisory Services LLC. bought a new position in SLB in the 4th quarter valued at $31,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director directly owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings downgraded SLB from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. BMO Capital Markets raised their price target on shares of SLB from $55.00 to $63.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. Evercore reissued an "outperform" rating and issued a $64.00 price objective on shares of SLB in a research report on Monday, April 27th. UBS Group dropped their target price on shares of SLB from $69.00 to $66.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Wall Street Zen lowered shares of SLB from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Two 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.17.

SLB Stock Performance

SLB stock opened at $45.09 on Friday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The business has a 50-day moving average price of $53.51 and a 200 day moving average price of $49.60. The company has a market capitalization of $67.42 billion, a P/E ratio of 19.69, a PEG ratio of 1.82 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.

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 (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion for the quarter, compared to analysts' expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. As a group, equities research analysts forecast that SLB Limited will post 2.6 EPS for the current fiscal year.

SLB Announces Dividend

The firm 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 dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.6%. SLB's dividend payout ratio (DPR) is currently 51.53%.

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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