Premier Fund Managers Ltd Invests $9.89 Million in SLB Limited $SLB

Key Points

• Premier Fund Managers bought a new 256,400‑share position in SLB during the 4th quarter, valued at approximately $9.89 million.
• SLB reported $0.52 EPS (beat by $0.01) and $8.72 billion in revenue (slightly below estimates), with revenue up 2.7% year‑over‑year; analysts hold a consensus "Moderate Buy" rating and an average price target of $58.95.
• The company declared a quarterly dividend of $0.295 (annualized $1.18, yield 2.1%, ex‑dividend June 3), while EVP Steve Matthew Gassen sold 53,379 shares for about $2.998 million, cutting his stake by roughly 53%.

Premier Fund Managers Ltd purchased a new position in SLB Limited (NYSE:SLB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 256,400 shares of the oil and gas company's stock, valued at approximately $9,885,000.

A number of other large investors have also added to or reduced their stakes in SLB. Steph & Co. raised its position in shares of SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 394 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in SLB during the 4th quarter valued at about $31,000. Root Financial Partners LLC bought a new stake in SLB during the 3rd quarter valued at about $29,000. Eagle Bay Advisors LLC purchased a new position in SLB in the fourth quarter worth about $34,000. Finally, Strengthening Families & Communities LLC purchased a new position in SLB in the third quarter worth about $31,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Price Performance

Shares of SLB opened at $55.24 on Thursday. The firm has a market cap of $82.59 billion, a PE ratio of 24.12, a P/E/G ratio of 3.95 and a beta of 0.72. SLB Limited has a 1-year low of $31.64 and a 1-year high of $57.20. 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 fifty day simple moving average of $50.85 and a two-hundred day simple moving average of $44.77.

SLB (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion during 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%.SLB's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. On average, equities analysts anticipate 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. Shareholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. 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 is presently 51.53%.

Insider Buying and Selling

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 47,421 shares of the company's stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Loop Capital set a $48.00 price target on shares of SLB in a report on Tuesday, January 27th. UBS Group upped their price objective on SLB from $61.00 to $69.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Piper Sandler increased their target price on SLB from $53.00 to $59.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Weiss Ratings raised SLB from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, April 22nd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $61.00 price target on shares of SLB in a research note on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.95.

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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