SLB Limited $SLB Stock Holdings Boosted by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC increased its SLB stake by 18.7% in the first quarter, buying 204,581 more shares and lifting its position to 1,301,506 shares worth about $66.9 million.
• SLB reported quarterly earnings of $0.52 per share, narrowly topping estimates, while revenue came in at $8.72 billion, slightly below expectations but up 2.7% year over year.
• The company declared a quarterly dividend of $0.295 per share and continues to draw mostly positive analyst sentiment, with a consensus rating of “Moderate Buy” and an average price target of $60.83.

SG Americas Securities LLC increased its position in SLB Limited (NYSE:SLB - Free Report) by 18.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,301,506 shares of the oil and gas company's stock after acquiring an additional 204,581 shares during the period. SG Americas Securities LLC owned approximately 0.09% of SLB worth $66,884,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of SLB by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company's stock worth $7,156,177,000 after buying an additional 1,080,999 shares during the period. State Street Corp increased its position in SLB by 1.0% in the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company's stock valued at $3,263,998,000 after acquiring an additional 799,218 shares during the period. Charles Schwab Investment Management Inc. raised its stake in SLB by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company's stock valued at $2,072,844,000 after acquiring an additional 1,458,650 shares in the last quarter. Morgan Stanley raised its stake in SLB by 1.3% during the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company's stock valued at $1,423,716,000 after acquiring an additional 482,533 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in SLB by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company's stock worth $1,292,993,000 after acquiring an additional 510,747 shares during the period. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Down 0.3%

SLB opened at $47.95 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The company has a market capitalization of $71.69 billion, a PE ratio of 20.94, a P/E/G ratio of 1.93 and a beta of 0.70. The stock's fifty day moving average is $54.60 and its 200-day moving average is $49.19. SLB Limited has a one year low of $31.64 and a one year high of $58.82.

SLB (NYSE:SLB - Get Free Report) last announced its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $8.76 billion. During the same quarter last year, the business posted $0.72 earnings per share. The company's quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts predict that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. SLB's dividend payout ratio (DPR) is 51.53%.

Analyst Upgrades and Downgrades

SLB has been the subject of several recent analyst reports. BMO Capital Markets increased their price target on SLB from $55.00 to $63.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. Jefferies Financial Group restated a "buy" rating and set a $65.00 price objective on shares of SLB in a research note on Sunday, April 26th. Piper Sandler increased their target price on shares of SLB from $53.00 to $59.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. Sanford C. Bernstein raised their target price on shares of SLB from $56.10 to $71.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Finally, Weiss Ratings downgraded shares of SLB from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Three equities research 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.83.

Insider Activity at SLB

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred 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 completion of the transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.16% of the company's stock.

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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