SLB Limited $SLB Shares Purchased by Mountain Hill Investment Partners Corp.

Key Points

• Mountain Hill Investment Partners raised its stake in SLB Limited by 77.5% in Q4, buying an additional 100,700 shares to hold 230,600 shares worth $8.85 million, making SLB 6.3% of the firm's portfolio and its fifth-largest position.
• Institutional ownership stands at 81.99% with large managers like Vanguard and State Street adding exposure, and analysts give a consensus "Moderate Buy" with an average target price of $54.27.
• SLB recently beat quarterly estimates (EPS $0.78 vs. $0.74; revenue $9.75B vs. $9.54B) and raised its quarterly dividend to $0.295 (annualized $1.18, ~2.3% yield), while insiders have sold roughly 156,902 shares (~$7.8M) in the last 90 days.

Mountain Hill Investment Partners Corp. raised its position in SLB Limited (NYSE:SLB - Free Report) by 77.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,600 shares of the oil and gas company's stock after purchasing an additional 100,700 shares during the quarter. SLB comprises 6.3% of Mountain Hill Investment Partners Corp.'s investment portfolio, making the stock its 5th biggest position. Mountain Hill Investment Partners Corp.'s holdings in SLB were worth $8,850,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of SLB by 23.3% during the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company's stock worth $6,371,335,000 after buying an additional 35,057,313 shares during the last quarter. State Street Corp lifted its holdings in SLB by 7.0% in the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company's stock valued at $2,898,037,000 after acquiring an additional 5,466,786 shares during the last quarter. Greenhaven Associates Inc. acquired a new position in SLB in the fourth quarter valued at approximately $178,883,000. Caisse de depot et placement du Quebec grew its position in SLB by 10,422.1% in the third quarter. Caisse de depot et placement du Quebec now owns 3,165,581 shares of the oil and gas company's stock worth $108,801,000 after acquiring an additional 3,135,496 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in SLB by 25.2% in the third quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company's stock worth $528,217,000 after acquiring an additional 3,094,764 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SLB shares. Loop Capital set a $48.00 target price on SLB in a research report on Tuesday, January 27th. Evercore set a $54.00 price target on SLB and gave the stock an "outperform" rating in a report on Tuesday, January 6th. Weiss Ratings reissued a "hold (c)" rating on shares of SLB in a research report on Thursday, April 2nd. Stifel Nicolaus set a $56.00 price objective on shares of SLB in a report on Monday, January 26th. Finally, Sanford C. Bernstein increased their target price on shares of SLB from $52.30 to $56.10 and gave the stock an "outperform" rating in a research note on Thursday, March 12th. Three 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $54.27.

Insider Buying and Selling

In other SLB news, Director La Chevardiere Patrick De sold 4,000 shares of SLB stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total value of $201,160.00. Following the completion of the transaction, the director directly owned 19,525 shares of the company's stock, valued at $981,912.25. The trade was a 17.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the sale, the executive vice president directly owned 140,602 shares in the company, valued at $6,987,919.40. This represents a 29.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 156,902 shares of company stock worth $7,796,666 over the last 90 days. 0.16% of the stock is owned by insiders.

SLB Stock Down 1.3%

Shares of NYSE SLB opened at $51.72 on Friday. The firm has a market cap of $77.70 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 3.60 and a beta of 0.69. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. SLB Limited has a 52-week low of $31.64 and a 52-week high of $54.80. The business's 50 day moving average is $49.89 and its two-hundred day moving average is $42.86.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.54 billion. During the same period last year, the business posted $0.92 earnings per share. The company's quarterly revenue was up 5.0% on a year-over-year basis. Research analysts predict that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th were issued a dividend of $0.295 per share. This is a positive change from SLB's previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, February 11th. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. SLB's dividend payout ratio (DPR) is 49.79%.

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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