Tandem Capital Management Corp ADV Trims Holdings in SLB Limited $SLB

Key Points

• Tandem Capital Management Corp ADV cut its stake in SLB by 82.5% in Q4, selling 29,182 shares and finishing the quarter with 6,193 shares worth about $238,000.
• Insider and institutional activity: insiders sold 156,902 shares (~$7.8M) last quarter — including CFO Stephane Biguet's sale of 61,017 shares — while hedge funds and other institutions still own about 81.99% of SLB.
• Company results and outlook: SLB beat Q4 estimates with $0.78 EPS and $9.75B revenue (up 5% YoY), raised its quarterly dividend to $0.295 (annualized $1.18, ~2.3% yield), and has a consensus analyst price target near $53.27.

Tandem Capital Management Corp ADV decreased its stake in shares of SLB Limited (NYSE:SLB - Free Report) by 82.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,193 shares of the oil and gas company's stock after selling 29,182 shares during the quarter. Tandem Capital Management Corp ADV's holdings in SLB were worth $238,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in SLB during the fourth quarter worth approximately $31,000. Root Financial Partners LLC purchased a new position in SLB during the third quarter worth approximately $29,000. Corsicana & Co. purchased a new position in SLB during the third quarter worth approximately $31,000. Strengthening Families & Communities LLC purchased a new stake in SLB in the third quarter valued at $31,000. Finally, SouthState Bank Corp raised its position in SLB by 57.4% in the third quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company's stock valued at $42,000 after purchasing an additional 442 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Price Performance

SLB stock opened at $51.87 on Tuesday. The business's fifty day moving average price is $49.79 and its 200 day moving average price is $42.61. SLB Limited has a 12-month low of $31.64 and a 12-month high of $54.80. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $77.93 billion, a PE ratio of 21.88, a P/E/G ratio of 3.72 and a beta of 0.69.

SLB (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (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 firm had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. During the same quarter in the prior year, the company earned $0.92 EPS. SLB's revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts anticipate 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 paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, February 11th. This is a positive change from SLB's previous quarterly dividend of $0.29. SLB's dividend payout ratio is currently 49.79%.

Insider Activity

In related news, CFO Stephane Biguet sold 61,017 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 $3,032,544.90. Following the transaction, the chief financial officer owned 155,548 shares of the company's stock, valued at approximately $7,730,735.60. This represents a 28.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dianne B. Ralston sold 18,617 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.50, for a total value of $921,541.50. Following the transaction, the insider directly owned 224,097 shares in the company, valued at approximately $11,092,801.50. The trade was a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 156,902 shares of company stock worth $7,796,666 in the last quarter. Insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

SLB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on SLB from $43.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, January 26th. BMO Capital Markets lifted their target price on SLB from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Monday, January 26th. Wall Street Zen downgraded SLB from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Sanford C. Bernstein lifted their target price on SLB from $52.30 to $56.10 and gave the company an "outperform" rating in a research report on Thursday, March 12th. Finally, Freedom Capital downgraded SLB from a "hold" rating to a "strong sell" rating in a research report on Tuesday, January 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, SLB currently has an average rating of "Moderate Buy" and a consensus price target of $53.27.

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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