XXEC Inc. lifted its holdings in SLB Limited (NYSE:SLB – Free Report) by 398.6% in the first quarter, HoldingsChannel reports. The fund owned 669,474 shares of the oil and gas company’s stock after buying an additional 535,209 shares during the period. SLB makes up 6.8% of XXEC Inc.’s investment portfolio, making the stock its 7th biggest position. XXEC Inc.’s holdings in SLB were worth $34,404,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Private Wealth Asset Management LLC raised its position in SLB by 4.1% in the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after purchasing an additional 200 shares during the period. Capital Advisors Ltd. LLC lifted its stake in SLB by 9.3% in the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 214 shares during the last quarter. Ballentine Partners LLC boosted its position in SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after buying an additional 218 shares during the period. Davis Capital Management boosted its position in SLB by 1.0% during the first quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock valued at $1,129,000 after buying an additional 220 shares during the period. Finally, Bruce G. Allen Investments LLC grew its stake in shares of SLB by 37.0% during the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 227 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 analyst reports. BMO Capital Markets lifted their price objective on SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Morgan Stanley set a $57.00 target price on SLB in a report on Monday, April 27th. The Goldman Sachs Group raised their price target on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Piper Sandler lifted their price target on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of SLB in a research report on Tuesday, June 16th. Two investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.83.
Key SLB News
Here are the key news stories impacting SLB this week:
- Positive Sentiment: SLB won a seven-year contract from Kuwait Oil Company under the Ahmadi Innovation Valley initiative, supporting applied research, technology deployment, and digital innovation. This could strengthen long-term revenue visibility and highlights demand for SLB’s energy technology offerings. SLB Awarded Seven-Year Contract Under Kuwait Oil Company’s Ahmadi Innovation Valley Initiative
- Positive Sentiment: SLB is also expanding its footprint in Louisiana, with Industrial Realty Group saying the company will occupy more space at its Shreveport campus. While this is not as material as the Kuwait deal, it suggests continued operational expansion and ongoing investment in capacity. IRG Expands Long-Term Lease with SLB in Shreveport, LA, 3.5 Million Sq. Ft. Former GM Facility Now Fully Leased
- Positive Sentiment: Several commentary pieces argue that SLB may be oversold after a sharp recent pullback, and that improving analyst earnings estimates could support a rebound. This may help explain why some investors are starting to view the weakness as a potential buying opportunity. Down 15.3% in 4 Weeks, Here’s Why You Should You Buy the Dip in SLB (SLB)
- Neutral Sentiment: Market-watchers also compared SLB with Enpro (NPO) as a value stock. This is more of a valuation discussion than a direct business catalyst, so it is likely limited in near-term stock impact. SLB vs. NPO: Which Stock Is the Better Value Option?
- Negative Sentiment: Despite the positive contract news, SLB has been trading lower over the past several weeks, reflecting recent selling pressure and concern about near-term momentum. That weakness may be capping enthusiasm even as investors wait to see whether new contract wins translate into stronger earnings. SLB (SLB) Stock Sinks As Market Gains: Here’s Why
Insider Transactions at SLB
In other news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred 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 sale, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $2,998,832.22. Following the transaction, the executive vice president directly owned 47,421 shares in the company, valued at $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 owned by insiders.
SLB Price Performance
Shares of SLB stock opened at $46.44 on Wednesday. The company’s fifty day simple moving average is $53.99 and its two-hundred day simple moving average is $49.56. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The firm has a market cap of $69.44 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35.
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 firm had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 earnings per share. As a group, equities analysts expect that SLB Limited will post 2.62 EPS for the current year.
SLB Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.
SLB 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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