Oxbow Advisors LLC Takes $4.26 Million Position in SLB Limited $SLB

Oxbow Advisors LLC purchased a new position in SLB Limited (NYSE:SLB) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 82,828 shares of the oil and gas company’s stock, valued at approximately $4,257,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. MV Capital Management Inc. acquired a new stake in SLB during the fourth quarter valued at $28,000. Sound Income Strategies LLC grew its stake in SLB by 71.1% in the first quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 324 shares in the last quarter. Steph & Co. increased its position in SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 394 shares during the last quarter. Strategic Wealth Advisors LLC acquired a new position in SLB in the 4th quarter worth about $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of SLB during the 4th quarter worth about $31,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SLB. BMO Capital Markets lifted their price target on SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Susquehanna increased their price objective on SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a report on Monday, April 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of SLB in a research report on Tuesday, June 16th. JPMorgan Chase & Co. lifted their target price on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Stifel Nicolaus boosted their target price on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

SLB Price Performance

Shares of NYSE:SLB opened at $45.09 on Friday. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The business has a 50-day moving average of $53.51 and a two-hundred day moving average of $49.60. The stock has a market capitalization of $67.42 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.82 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.

SLB (NYSE:SLB) last issued its quarterly earnings data 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. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts predict that SLB Limited will post 2.6 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.6%. SLB’s dividend 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 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 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 ownership of the stock. 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 company’s 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 sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company’s stock.

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.