Westfield Capital Management Co. LP Invests $4.64 Million in SLB Limited $SLB

Key Points

• Westfield Capital Management disclosed a new fourth-quarter position in SLB, buying 120,910 shares worth about $4.64 million.
• SLB shares were down 5.6% in the session, though the stock still has a market cap of roughly $81.9 billion and has traded between $31.64 and $58.82 over the past year.
• The company recently beat quarterly EPS estimates by a penny and paid a quarterly dividend of $0.295 per share; meanwhile, analysts remain broadly bullish with a Moderate Buy consensus and an average target price of $60.67.

Westfield Capital Management Co. LP purchased a new position in SLB Limited (NYSE:SLB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 120,910 shares of the oil and gas company's stock, valued at approximately $4,641,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Wealth Advisors LLC acquired a new position in SLB in the fourth quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in SLB in the fourth quarter worth approximately $31,000. Steph & Co. increased its holdings in 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 buying an additional 394 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in SLB in the fourth quarter worth approximately $31,000. Finally, Bruce G. Allen Investments LLC increased its holdings in SLB by 37.0% in the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company's stock worth $32,000 after buying an additional 227 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

SLB Stock Down 5.6%

Shares of SLB stock opened at $54.79 on Friday. The stock has a market cap of $81.91 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 2.35 and a beta of 0.70. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The stock has a fifty day moving average price of $54.22 and a 200 day moving average price of $47.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.

SLB (NYSE:SLB - Get Free Report) last issued 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. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $8.76 billion. During the same period last year, the business earned $0.72 earnings per share. SLB's quarterly revenue was up 2.7% compared to the same quarter last year. Analysts predict that SLB Limited will post 2.62 earnings per share for the current year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. SLB's dividend payout ratio (DPR) is presently 51.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SLB shares. Royal Bank Of Canada restated an "outperform" rating and issued a $61.00 price objective on shares of SLB in a report on Monday, April 27th. Citigroup increased their price objective on SLB from $59.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. BMO Capital Markets increased their price objective on SLB from $55.00 to $63.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. JPMorgan Chase & Co. increased their price objective on SLB from $54.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Finally, Sanford C. Bernstein increased their price target on SLB from $56.10 to $71.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.67.

Insiders Place Their Bets

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 47,421 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director directly owned 16,953 shares of the company's stock, valued at approximately $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by company insiders.

SLB 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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