SLB Limited $SLB Shares Bought by Sequent Asset Management LLC

Key Points

• Sequent Asset Management more than doubled its SLB stake in the fourth quarter, increasing holdings by 104.5% to 253,729 shares worth about $9.74 million.
• SLB insiders have been selling shares recently, including Director Patrick De La Chevardiere and EVP Steve Matthew Gassen, with the latter reducing his position by nearly 53%.
• Analysts remain generally positive on SLB, with a Moderate Buy consensus and an average price target of $59.74; the stock also recently traded up 3.3% and the company reported quarterly earnings that slightly beat EPS estimates.

Sequent Asset Management LLC grew its holdings in SLB Limited (NYSE:SLB - Free Report) by 104.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 253,729 shares of the oil and gas company's stock after acquiring an additional 129,648 shares during the quarter. SLB accounts for 4.3% of Sequent Asset Management LLC's portfolio, making the stock its 6th largest holding. Sequent Asset Management LLC's holdings in SLB were worth $9,738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SLB. Strategic Wealth Advisors LLC acquired a new position in SLB during the 4th quarter valued at $30,000. Strengthening Families & Communities LLC bought a new stake in SLB in the 3rd quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in SLB in the 4th quarter worth $31,000. Steph & Co. increased its holdings 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 worth $31,000 after purchasing an additional 394 shares during the period. Finally, Lloyd Advisory Services LLC. bought a new position in shares of SLB during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Buying and Selling at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director owned 16,953 shares of the company's stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the 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 owned 47,421 shares of the company's stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SLB shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $61.00 target price on shares of SLB in a research note on Monday, April 27th. Citigroup boosted their price target on SLB from $59.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Susquehanna upped their price target on SLB from $60.00 to $65.00 and gave the company a "positive" rating in a report on Monday, April 27th. Jefferies Financial Group reiterated a "buy" rating and issued a $65.00 price objective on shares of SLB in a research report on Sunday, April 26th. Finally, Stifel Nicolaus lifted their price objective on SLB from $56.00 to $61.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.74.

SLB Trading Up 3.3%

SLB stock opened at $56.57 on Wednesday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. 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 business's 50 day moving average is $53.66 and its 200-day moving average is $47.32. The firm has a market cap of $84.58 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.22 and a beta of 0.70.

SLB (NYSE:SLB - Get Free Report) last posted 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. The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. Equities analysts anticipate that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

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