ProShare Advisors LLC Purchases 21,250 Shares of SLB Limited $SLB

Key Points

• ProShare Advisors LLC increased its SLB stake by 7.0% in the fourth quarter, buying 21,250 additional shares and bringing its total holdings to 326,945 shares worth about $12.55 million.
• Wall Street analysts remain positive on SLB, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus rating and average target price of $59.74.
• SLB recently reported quarterly earnings of $0.52 per share, slightly beating estimates, and announced a quarterly dividend of $0.295 per share payable on July 9.

ProShare Advisors LLC raised its position in SLB Limited (NYSE:SLB - Free Report) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 326,945 shares of the oil and gas company's stock after purchasing an additional 21,250 shares during the period. ProShare Advisors LLC's holdings in SLB were worth $12,548,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SLB. Root Financial Partners LLC bought a new stake in SLB in the third quarter valued at approximately $29,000. Strategic Wealth Advisors LLC bought a new stake in shares of SLB during the fourth quarter worth $30,000. Strengthening Families & Communities LLC bought a new stake in shares of SLB during the third quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SLB during the fourth quarter worth $31,000. Finally, Steph & Co. increased its position in shares of SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock worth $31,000 after acquiring an additional 394 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of SLB from $49.00 to $51.00 and gave the stock an "overweight" rating in a research report on Monday, April 27th. Argus raised shares of SLB to a "strong-buy" rating in a research report on Monday, January 26th. Piper Sandler increased their price objective 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. JPMorgan Chase & Co. increased their price objective on shares of SLB from $54.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, April 27th. Finally, Evercore reissued an "outperform" rating and set a $64.00 price objective on shares of SLB in a research report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, SLB currently has an average rating of "Moderate Buy" and a consensus target price of $59.74.

SLB Stock Performance

Shares of SLB opened at $57.29 on Friday. SLB Limited has a 12 month low of $31.64 and a 12 month high of $57.70. The firm has a fifty day simple moving average of $52.22 and a 200 day simple moving average of $46.35. The stock has a market capitalization of $85.64 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 2.32 and a beta of 0.72. 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 (NYSE:SLB - Get Free Report) last announced its earnings results 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. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $8.76 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. Research analysts forecast that SLB Limited will post 2.61 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.1%. SLB's dividend payout ratio is presently 51.53%.

Insider Buying and Selling at SLB

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the transaction, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the 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 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 SEC filing for this sale provides additional information. Corporate insiders own 0.16% of the company's stock.

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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