SLB (NYSE:SLB) EVP Steve Matthew Gassen Sells 53,379 Shares

Key Points

• SLB EVP Steve Matthew Gassen sold 53,379 shares on May 1 at an average price of $56.18 for about $2.9988M, reducing his holding by roughly 52.96% to 47,421 shares (SEC Form 4 filed).
• Dividend announced: SLB declared a quarterly dividend of $0.295 per share (annualized $1.18) with an ex-dividend date of June 3 and payment on July 9, implying a ~2.1% yield.
• SLB reported Q1 EPS of $0.52 (beating estimates by $0.01) on $8.72B revenue (slightly below expectations), and analysts give a "Moderate Buy" consensus with an average target price of about $58.95.

SLB Limited (NYSE:SLB - Get Free Report) EVP Steve Matthew Gassen sold 53,379 shares of the business'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 transaction, the executive vice president directly owned 47,421 shares of the company's stock, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

SLB Price Performance

NYSE:SLB traded up $0.12 during mid-day trading on Friday, hitting $57.00. 9,710,382 shares of the stock traded hands, compared to its average volume of 14,052,723. The business's 50-day moving average price is $50.67 and its 200 day moving average price is $44.29. The company has a market cap of $85.22 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 4.02 and a beta of 0.72. SLB Limited has a 12-month low of $31.64 and a 12-month high of $57.20. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. SLB's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share. On average, analysts expect that SLB Limited will post 2.6 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders 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 yield of 2.1%. SLB's payout ratio is presently 51.53%.

Institutional Investors Weigh In On SLB

A number of hedge funds have recently made changes to their positions in the business. Synergy Asset Management LLC grew its position in SLB by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company's stock valued at $2,732,000 after purchasing an additional 40,415 shares during the last quarter. Americana Partners LLC grew its position in SLB by 10.1% during the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company's stock valued at $8,526,000 after purchasing an additional 22,706 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in SLB by 13.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company's stock valued at $7,220,000 after purchasing an additional 25,417 shares during the last quarter. Nordea Investment Management AB grew its position in SLB by 4.9% during the 3rd quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company's stock valued at $72,354,000 after purchasing an additional 100,918 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG grew its position in SLB by 1,937.4% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company's stock valued at $34,265,000 after purchasing an additional 948,015 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler lifted 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. Freedom Capital lowered shares of SLB from a "hold" rating to a "strong sell" rating in a research report on Tuesday, January 27th. UBS Group lifted their target price on shares of SLB from $61.00 to $69.00 and gave the company a "buy" rating in a research report on Wednesday. TD Cowen lifted their target price on shares of SLB from $55.00 to $66.00 and gave the company a "buy" rating in a research report on Monday. Finally, Sanford C. Bernstein lifted their target price on shares of SLB from $52.30 to $56.10 and gave the company an "outperform" rating in a research report on Thursday, March 12th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SLB presently has an average rating of "Moderate Buy" and an average target price of $58.95.

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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