DJE Kapital AG Buys New Stake in SLB Limited $SLB

DJE Kapital AG bought a new stake in SLB Limited (NYSE:SLB) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 221,866 shares of the oil and gas company’s stock, valued at approximately $11,686,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fearnley Asset Management AS acquired a new position in SLB during the fourth quarter worth approximately $8,574,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of SLB in the first quarter valued at approximately $47,528,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of SLB by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock valued at $126,303,000 after acquiring an additional 128,660 shares during the period. Cibc World Market Inc. grew its position in shares of SLB by 48.7% during the fourth quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock worth $52,468,000 after acquiring an additional 447,667 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of SLB by 65.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock valued at $7,898,000 after acquiring an additional 81,045 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Price Performance

Shares of NYSE SLB opened at $46.41 on Tuesday. The stock has a fifty day moving average price of $51.72 and a 200 day moving average price of $50.37. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The company has a market cap of $69.38 billion, a PE ratio of 20.27, a P/E/G ratio of 1.89 and a beta of 0.72.

SLB (NYSE:SLB) last announced 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 company had revenue of $8.72 billion for 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%. SLB’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. Sell-side analysts forecast that SLB Limited will post 2.53 EPS for the current year.

SLB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd were paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Wednesday, June 3rd. SLB’s payout ratio is 51.53%.

Insider Transactions at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’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 completion of the sale, the director owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB 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 completion of the sale, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of several research reports. Stifel Nicolaus upped their price target on shares of SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Weiss Ratings downgraded shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Morgan Stanley restated an “overweight” rating and issued a $54.00 price objective on shares of SLB in a research note on Wednesday, July 15th. Citigroup reduced their target price on shares of SLB from $68.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Finally, Wolfe Research assumed coverage on shares of SLB in a research note on Wednesday, July 8th. They set an “outperform” rating and a $62.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average target price of $60.30.

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.