SLB (NYSE:SLB) Director Sells $108,660.00 in Stock

Key Points

• Director La Chevardiere Patrick De sold 2,000 shares for $108,660 (at $54.33), trimming his holding to 16,953 shares — a 10.55% decrease in his position.
• SLB shares fell about 3.9% to $53.04; the company reported Q1 EPS of $0.52 (beat by $0.01) on $8.72B revenue (slightly below estimates) and announced a $0.295 quarterly dividend (2.2% yield) payable July 9.
• Analysts have raised targets recently and the consensus rating is a Moderate Buy with an average price target of $59.74, while institutional investors own roughly 82% of the stock.

SLB Limited (NYSE:SLB - Get Free Report) Director La Chevardiere Patrick De sold 2,000 shares of the company'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 value of $108,660.00. Following the completion of the transaction, the director owned 16,953 shares of the company's stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

SLB Stock Down 3.9%

SLB stock traded down $2.13 during midday trading on Thursday, hitting $53.04. 16,613,611 shares of the company's stock were exchanged, compared to its average volume of 19,210,723. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. SLB Limited has a 12-month low of $31.64 and a 12-month high of $57.20. The firm has a 50 day moving average price of $50.85 and a 200-day moving average price of $44.77. The stock has a market capitalization of $79.29 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 3.95 and a beta of 0.72.

SLB (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (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 company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the business earned $0.72 EPS. SLB's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts anticipate that SLB Limited will post 2.6 EPS for the current year.

SLB Dividend Announcement

The firm 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 is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.2%. SLB's payout ratio is currently 51.53%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WCM Investment Management LLC boosted its position in SLB by 777.8% during the 1st quarter. WCM Investment Management LLC now owns 942,864 shares of the oil and gas company's stock worth $48,586,000 after acquiring an additional 835,454 shares during the period. Hamel Associates Inc. acquired a new position in SLB during the 1st quarter worth $316,000. Dimensional Fund Advisors LP boosted its position in SLB by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 15,901,998 shares of the oil and gas company's stock worth $817,246,000 after acquiring an additional 169,468 shares during the period. Parallel Advisors LLC boosted its position in SLB by 14.4% during the 1st quarter. Parallel Advisors LLC now owns 23,489 shares of the oil and gas company's stock worth $1,207,000 after acquiring an additional 2,955 shares during the period. Finally, KBC Group NV boosted its position in SLB by 194.4% during the 1st quarter. KBC Group NV now owns 383,317 shares of the oil and gas company's stock worth $19,699,000 after acquiring an additional 253,117 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Analysts Set New Price Targets

SLB has been the topic of several analyst reports. Susquehanna lifted their price objective on SLB from $60.00 to $65.00 and gave the stock a "positive" rating in a report on Monday, April 27th. Jefferies Financial Group reiterated a "buy" rating and issued a $65.00 price target on shares of SLB in a report on Sunday, April 26th. Piper Sandler boosted their price target on SLB from $53.00 to $59.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Barclays upgraded SLB from an "overweight" rating to a "positive" rating and set a $66.00 price target for the company in a report on Thursday. Finally, Sanford C. Bernstein boosted their price target on SLB from $52.30 to $56.10 and gave the company an "outperform" rating in a report on Thursday, March 12th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.74.

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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