RBF Capital LLC Cuts Stock Position in SLB Limited $SLB

RBF Capital LLC lessened its stake in SLB Limited (NYSE:SLB) by 25.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 90,000 shares of the oil and gas company’s stock after selling 30,000 shares during the quarter. RBF Capital LLC’s holdings in SLB were worth $3,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rakuten Investment Management Inc. increased its holdings in SLB by 119.2% in the 4th quarter. Rakuten Investment Management Inc. now owns 196,513 shares of the oil and gas company’s stock worth $7,448,000 after acquiring an additional 106,849 shares in the last quarter. L2 Asset Management LLC boosted its stake in SLB by 24.7% during the 4th quarter. L2 Asset Management LLC now owns 101,428 shares of the oil and gas company’s stock worth $3,893,000 after purchasing an additional 20,067 shares during the last quarter. Alberta Investment Management Corp boosted its stake in SLB by 826.6% during the 4th quarter. Alberta Investment Management Corp now owns 898,800 shares of the oil and gas company’s stock worth $34,496,000 after purchasing an additional 801,800 shares during the last quarter. Needham Investment Management LLC acquired a new stake in SLB during the 4th quarter worth $211,000. Finally, Thornburg Investment Management Inc. boosted its stake in SLB by 3.8% during the 4th quarter. Thornburg Investment Management Inc. now owns 35,406 shares of the oil and gas company’s stock worth $1,359,000 after purchasing an additional 1,306 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of several recent research reports. UBS Group lifted their target price on shares of SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Stifel Nicolaus lifted 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. Wall Street Zen cut shares of SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Susquehanna lifted 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. Finally, BMO Capital Markets lifted their target price on shares of SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction dated 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 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 is accessible through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by insiders.

SLB Trading Down 1.2%

Shares of SLB stock opened at $53.06 on Wednesday. The stock has a market cap of $79.33 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.18 and a beta of 0.70. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The company’s 50-day moving average price is $54.80 and its 200-day moving average price is $48.84. 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 (NYSE:SLB) last issued its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. SLB’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS. As a group, equities analysts predict that SLB Limited will post 2.62 earnings per share for the current year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is 51.53%.

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.