SCP Investment LP Acquires New Holdings in SLB Limited $SLB

Key Points

• SCP Investment LP opened a new position in SLB during the fourth quarter, buying 25,600 shares worth about $983,000.
• SLB reported Q1 earnings of $0.52 per share, edging past analyst estimates, while revenue came in at $8.72 billion, slightly below expectations but still up 2.7% year over year.
• The company declared a quarterly dividend of $0.295 per share, payable July 9, representing an annualized yield of about 2.1%.

SCP Investment LP bought a new position in shares of SLB Limited (NYSE:SLB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 25,600 shares of the oil and gas company's stock, valued at approximately $983,000. SLB accounts for about 0.8% of SCP Investment LP's portfolio, making the stock its 29th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Wealth Advisors LLC bought a new stake in SLB during the fourth quarter valued at $30,000. Strengthening Families & Communities LLC bought a new position in SLB in the 3rd quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of SLB in the 4th quarter valued at about $31,000. Steph & Co. boosted its position in shares of SLB by 97.5% during 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 stake in shares of SLB during the 4th quarter valued at about $31,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Stock Performance

NYSE:SLB opened at $56.57 on Wednesday. The company has a market capitalization of $84.58 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.22 and a beta of 0.70. The business has a 50 day moving average of $53.66 and a 200 day moving average of $47.32. 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 Limited has a 1-year low of $31.64 and a 1-year high of $58.82.

SLB (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. The business 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 business's quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $0.72 earnings per share. On average, sell-side analysts predict that SLB Limited will post 2.62 earnings per share 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 of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. SLB's dividend payout ratio (DPR) is currently 51.53%.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the firm's 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 directly owned 16,953 shares of the company's stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction dated Friday, May 1st. The stock was 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 approximately $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 owned by company insiders.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research analyst reports. Morgan Stanley set a $57.00 price objective on shares of SLB in a research report on Monday, April 27th. Wall Street Zen lowered shares of SLB from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Weiss Ratings lowered shares of SLB from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Royal Bank Of Canada restated an "outperform" rating and set a $61.00 price objective on shares of SLB in a research report on Monday, April 27th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $65.00 price objective on shares of SLB in a report on Sunday, April 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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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