Entropy Technologies LP Lowers Position in SLB Limited $SLB

Entropy Technologies LP reduced its stake in SLB Limited (NYSE:SLB) by 36.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 170,018 shares of the oil and gas company’s stock after selling 98,578 shares during the quarter. Entropy Technologies LP’s holdings in SLB were worth $6,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in SLB by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock valued at $7,156,177,000 after buying an additional 1,080,999 shares during the last quarter. State Street Corp increased its position in shares of SLB by 1.0% during the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock valued at $3,263,998,000 after purchasing an additional 799,218 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of SLB by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock valued at $2,072,844,000 after purchasing an additional 1,458,650 shares during the last quarter. Morgan Stanley increased its position in shares of SLB by 1.3% during the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock valued at $1,423,716,000 after purchasing an additional 482,533 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of SLB by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock valued at $1,292,993,000 after purchasing an additional 510,747 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the 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 owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction 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 transaction, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. The trade was a 10.55% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by corporate insiders.

SLB Stock Up 0.0%

SLB stock opened at $56.03 on Friday. 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 company has a market capitalization of $83.76 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 2.28 and a beta of 0.70. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The stock has a fifty day moving average of $54.64 and a 200-day moving average of $48.51.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. The company 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%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 EPS. As a group, equities research analysts predict that SLB Limited will post 2.62 earnings per share for the current year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders 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 dividend yield of 2.1%. SLB’s dividend payout ratio is presently 51.53%.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $65.00 target price on shares of SLB in a research report on Sunday, April 26th. Piper Sandler raised their target price on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Sanford C. Bernstein raised their target price on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Wall Street Zen lowered SLB from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, BMO Capital Markets raised their target price on SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Three research 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 company presently has an average rating of “Moderate Buy” and an average price target of $60.67.

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.