Qsemble Capital Management LP Raises Position in SLB Limited $SLB

Qsemble Capital Management LP lifted its stake in SLB Limited (NYSE:SLB) by 45.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,950 shares of the oil and gas company’s stock after buying an additional 63,255 shares during the period. Qsemble Capital Management LP’s holdings in SLB were worth $7,828,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Steph & Co. boosted its position 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 buying an additional 394 shares during the period. Strategic Wealth Advisors LLC purchased a new stake in shares of SLB in the fourth quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of SLB in the fourth quarter worth about $31,000. Root Financial Partners LLC purchased a new stake in shares of SLB in the third quarter worth about $29,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of SLB in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BMO Capital Markets upped their target price on SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Morgan Stanley set a $57.00 price target on SLB in a report on Monday, April 27th. Weiss Ratings downgraded SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Argus raised SLB to a “strong-buy” rating in a report on Monday, January 26th. Finally, The Goldman Sachs Group increased their price target on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.74.

SLB Trading Down 0.8%

Shares of SLB opened at $55.33 on Friday. The company has a market capitalization of $82.72 billion, a P/E ratio of 24.16, a P/E/G ratio of 3.92 and a beta of 0.72. 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 stock has a 50-day moving average price of $51.44 and a 200 day moving average price of $45.70.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.SLB’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 earnings per share. Sell-side analysts forecast that SLB Limited will post 2.61 EPS for the current fiscal year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid 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 dividend payout ratio is presently 51.53%.

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.