Lombard Odier Asset Management USA Corp Has $1.80 Million Holdings in SLB Limited $SLB

Lombard Odier Asset Management USA Corp increased its holdings in shares of SLB Limited (NYSE:SLB) by 80.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 47,000 shares of the oil and gas company’s stock after purchasing an additional 21,000 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in SLB were worth $1,804,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Captrust Financial Advisors lifted its position in shares of SLB by 18.4% during the 4th quarter. Captrust Financial Advisors now owns 173,662 shares of the oil and gas company’s stock worth $6,665,000 after purchasing an additional 27,009 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of SLB by 3.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,642,716 shares of the oil and gas company’s stock worth $139,807,000 after purchasing an additional 130,689 shares during the last quarter. &PARTNERS lifted its position in shares of SLB by 14.1% during the 4th quarter. &PARTNERS now owns 156,084 shares of the oil and gas company’s stock worth $5,973,000 after purchasing an additional 19,341 shares during the last quarter. ExodusPoint Capital Management LP lifted its position in shares of SLB by 12.0% during the 4th quarter. ExodusPoint Capital Management LP now owns 689,185 shares of the oil and gas company’s stock worth $26,451,000 after purchasing an additional 73,678 shares during the last quarter. Finally, Peloton Wealth Strategists lifted its position in shares of SLB by 15.3% during the 4th quarter. Peloton Wealth Strategists now owns 43,750 shares of the oil and gas company’s stock worth $1,679,000 after purchasing an additional 5,800 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SLB. Piper Sandler boosted their price objective on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. TD Cowen boosted their price target on SLB from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Weiss Ratings lowered SLB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. UBS Group boosted their price target on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Evercore restated an “outperform” rating and set a $64.00 price target on shares of SLB in a research note on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, SLB presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

Insider Activity at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s 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 represents a 10.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’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 completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.

SLB Trading Down 1.2%

SLB stock opened at $53.06 on Wednesday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The firm has a market cap of $79.33 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.18 and a beta of 0.70. The business’s 50 day moving average is $54.80 and its 200-day moving average 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 released its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same period in the prior year, the company posted $0.72 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Equities analysts anticipate that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Dividend Announcement

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