Tejara Capital Ltd Purchases 34,700 Shares of SLB Limited $SLB

Key Points

• Tejara Capital Ltd increased its SLB stake by 25% in the fourth quarter, buying 34,700 additional shares and bringing its total holdings to 173,459 shares valued at about $6.66 million.
• Several analysts turned more bullish on SLB, with firms including Goldman Sachs, Evercore, Jefferies, BMO Capital Markets, and Piper Sandler raising price targets; the stock now has an average “Moderate Buy” rating and a consensus target of $59.74.
• SLB reported quarterly earnings of $0.52 per share, slightly beating estimates, and also announced a quarterly dividend of $0.295 per share, implying a 2.1% yield.

Tejara Capital Ltd lifted its position in shares of SLB Limited (NYSE:SLB - Free Report) by 25.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 173,459 shares of the oil and gas company's stock after buying an additional 34,700 shares during the quarter. SLB makes up 1.6% of Tejara Capital Ltd's holdings, making the stock its 12th largest holding. Tejara Capital Ltd's holdings in SLB were worth $6,657,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Steph & Co. boosted its stake in shares of SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock worth $31,000 after acquiring an additional 394 shares during the period. Strategic Wealth Advisors LLC bought a new stake in SLB during the 4th quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in SLB during the 4th quarter valued at approximately $31,000. Root Financial Partners LLC purchased a new position in SLB in the 3rd quarter worth approximately $29,000. Finally, Eagle Bay Advisors LLC bought a new position in SLB in the 4th quarter worth approximately $34,000. Institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

SLB has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of SLB from $53.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Evercore restated an "outperform" rating and set a $64.00 target price on shares of SLB in a research report on Monday, April 27th. Jefferies Financial Group reaffirmed a "buy" rating and set a $65.00 target price on shares of SLB in a research note on Sunday, April 26th. BMO Capital Markets lifted their price target on shares of SLB from $55.00 to $63.00 and gave the company an "outperform" rating in a report on Monday, April 27th. Finally, Piper Sandler boosted their price target on shares of SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Three research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $59.74.

SLB Stock Up 0.6%

NYSE SLB opened at $55.70 on Friday. The stock has a 50 day moving average price of $51.29 and a 200-day moving average price of $45.63. SLB Limited has a one year low of $31.64 and a one year high of $57.20. 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 $83.28 billion, a P/E ratio of 24.32, a P/E/G ratio of 3.90 and a beta of 0.72.

SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company had revenue of $8.72 billion for the quarter, compared to analysts' expectations of $8.76 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. SLB's quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that SLB Limited will post 2.61 EPS for the current fiscal year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. SLB's payout ratio is 51.53%.

Insider Activity

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the business's 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 sale, the director directly owned 16,953 shares of the company's stock, valued at $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company'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 value of $2,998,832.22. Following the sale, the executive vice president 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. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by corporate insiders.

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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