ProShare Advisors LLC Has $12.55 Million Position in SLB Limited $SLB

ProShare Advisors LLC raised its position in SLB Limited (NYSE:SLB) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 326,945 shares of the oil and gas company’s stock after acquiring an additional 21,250 shares during the quarter. ProShare Advisors LLC’s holdings in SLB were worth $12,548,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Steph & Co. lifted its stake in SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 394 shares during the last quarter. Strategic Wealth Advisors LLC acquired a new stake in shares of SLB during the 4th quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB during the 4th quarter worth about $31,000. Root Financial Partners LLC acquired a new stake in shares of SLB during the 3rd quarter worth about $29,000. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of SLB during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Sanford C. Bernstein raised their target price on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Evercore restated an “outperform” rating and set a $64.00 target price on shares of SLB in a research note on Monday, April 27th. Barclays raised their target price on shares of SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, Susquehanna raised their target price on shares of SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a research note on Monday, April 27th. Three research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.74.

SLB Price Performance

Shares of SLB stock opened at $57.29 on Friday. SLB Limited has a twelve month low of $31.64 and a twelve month high of $57.70. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a 50-day simple moving average of $52.22 and a two-hundred day simple moving average of $46.35. The stock has a market capitalization of $85.64 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 2.32 and a beta of 0.72.

SLB (NYSE:SLB) last issued its earnings results 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%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. Analysts forecast that SLB Limited will post 2.61 EPS for the current year.

SLB Dividend Announcement

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

Insider Activity at SLB

In other 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 shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. The trade was a 10.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% 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 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.