Oxbow Advisors LLC Takes Position in SLB Limited $SLB

Key Points

• Oxbow Advisors LLC initiated a new position in SLB during the first quarter, buying 82,828 shares valued at about $4.26 million.
• Several insiders sold shares, including Director Patrick De La Chevardiere and EVP Steve Matthew Gassen, while institutional ownership remains high at 81.99%.
• SLB reported quarterly earnings of $0.52 per share, slightly ahead of estimates, and also announced a quarterly dividend of $0.295 per share for a 2.6% annualized yield.

Oxbow Advisors LLC bought a new stake in shares of SLB Limited (NYSE:SLB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 82,828 shares of the oil and gas company's stock, valued at approximately $4,257,000.

A number of other hedge funds have also recently bought and sold shares of the company. Private Wealth Asset Management LLC lifted its holdings in SLB by 4.1% in the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company's stock valued at $193,000 after acquiring an additional 200 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of SLB by 9.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company's stock worth $129,000 after purchasing an additional 214 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of SLB by 2.2% in the 4th quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company's stock worth $395,000 after purchasing an additional 218 shares in the last quarter. Davis Capital Management lifted its stake in SLB by 1.0% during the first quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company's stock valued at $1,129,000 after purchasing an additional 220 shares during the last quarter. Finally, Bruce G. Allen Investments LLC boosted its holdings in SLB by 37.0% during the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company's stock worth $32,000 after buying an additional 227 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction dated 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 owned 16,953 shares of the company's stock, valued at $921,056.49. The trade was a 10.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company's stock in a transaction dated 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 in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on SLB. Piper Sandler lifted their price target on shares of SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Susquehanna raised their price objective on SLB from $60.00 to $65.00 and gave the stock a "positive" rating in a research note on Monday, April 27th. Morgan Stanley set a $57.00 target price on SLB in a report on Monday, April 27th. Weiss Ratings lowered SLB from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Finally, UBS Group decreased their price target on SLB from $69.00 to $66.00 and set a "buy" rating for the company in a research report on Wednesday. Two investment 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 company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.17.

SLB Trading Down 0.1%

SLB stock opened at $45.09 on Friday. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The firm has a market capitalization of $67.42 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 1.82 and a beta of 0.72. The company has a 50 day moving average price of $53.51 and a 200 day moving average price of $49.60.

SLB (NYSE:SLB - Get Free Report) last announced its 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 company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company's revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. Research analysts forecast that SLB Limited will post 2.6 EPS for the current year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB's payout ratio is presently 51.53%.

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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