Leeward Investments LLC MA Buys 38,526 Shares of SLB Limited $SLB

Key Points

• Leeward Investments LLC MA increased its SLB stake by 13.7% in the fourth quarter, buying 38,526 additional shares and bringing its total holdings to 319,229 shares worth about $12.25 million.
• Insider selling was notable, with EVP Steve Matthew Gassen selling 53,379 shares and Director Patrick De La Chevardiere selling 2,000 shares in separate May transactions.
• SLB reported quarterly EPS of $0.52, beating analyst expectations, while revenue came in at $8.72 billion. The company also declared a quarterly dividend of $0.295 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $59.74.

Leeward Investments LLC MA raised its stake in SLB Limited (NYSE:SLB - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 319,229 shares of the oil and gas company's stock after purchasing an additional 38,526 shares during the quarter. Leeward Investments LLC MA's holdings in SLB were worth $12,252,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Ballentine Partners LLC lifted its position in shares of SLB by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company's stock valued at $395,000 after buying an additional 218 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its position in shares of SLB by 3.0% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 8,281 shares of the oil and gas company's stock valued at $318,000 after buying an additional 238 shares during the last quarter. Independent Advisor Alliance lifted its position in shares of SLB by 1.9% in the fourth quarter. Independent Advisor Alliance now owns 13,402 shares of the oil and gas company's stock valued at $514,000 after buying an additional 247 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of SLB by 1.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,574 shares of the oil and gas company's stock valued at $636,000 after buying an additional 254 shares during the last quarter. Finally, apricus wealth LLC lifted its position in shares of SLB by 0.3% in the fourth quarter. apricus wealth LLC now owns 84,740 shares of the oil and gas company's stock valued at $3,252,000 after buying an additional 270 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the firm'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 transaction, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The transaction was disclosed in a legal 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 firm's stock in a transaction on Thursday, May 7th. The stock was 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 in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by company insiders.

SLB Stock Performance

NYSE:SLB opened at $55.70 on Friday. The stock has a market cap of $83.28 billion, a P/E ratio of 24.32, a PEG ratio of 3.90 and a beta of 0.72. The stock has a 50 day simple moving average of $51.29 and a 200 day simple moving average of $45.63. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. SLB Limited has a 1-year low of $31.64 and a 1-year high of $57.20.

SLB (NYSE:SLB - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter last year, the company earned $0.72 EPS. The company's revenue was up 2.7% on a year-over-year basis. Research analysts anticipate that SLB Limited will post 2.61 earnings per share for the current year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders 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 yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio (DPR) is 51.53%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SLB. Loop Capital set a $48.00 price objective on SLB in a research report on Tuesday, January 27th. Barclays raised their price objective on SLB from $49.00 to $51.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Morgan Stanley set a $57.00 price objective on SLB in a research report on Monday, April 27th. Argus raised SLB to a "strong-buy" rating in a research report on Monday, January 26th. Finally, Stifel Nicolaus raised their price objective on SLB from $56.00 to $61.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.74.

SLB Company 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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