SLB Limited $SLB Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its holdings in SLB Limited (NYSE:SLB) by 32.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,852,247 shares of the oil and gas company’s stock after selling 2,860,270 shares during the quarter. Pacer Advisors Inc. owned approximately 0.39% of SLB worth $224,609,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SLB. MV Capital Management Inc. bought a new stake in SLB in the 4th quarter valued at about $28,000. Cambient Family Office LLC bought a new stake in SLB during the fourth quarter worth approximately $386,000. McLaughlin Asset Management Inc. acquired a new stake in shares of SLB in the fourth quarter valued at $545,000. White Knight Strategic Wealth Advisors LLC lifted its holdings in SLB by 16.4% in the 4th quarter. White Knight Strategic Wealth Advisors LLC now owns 13,010 shares of the oil and gas company’s stock valued at $499,000 after acquiring an additional 1,830 shares during the last quarter. Finally, Compound Planning Inc. lifted its stake in SLB by 20.9% during the fourth quarter. Compound Planning Inc. now owns 13,003 shares of the oil and gas company’s stock valued at $499,000 after purchasing an additional 2,248 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Stock Down 4.4%

NYSE SLB opened at $48.12 on Friday. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The stock has a market cap of $71.95 billion, a PE ratio of 21.01, a PEG ratio of 2.04 and a beta of 0.70. The firm has a 50-day simple moving average of $54.77 and a 200 day simple moving average of $49.03. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34.

SLB (NYSE:SLB) last issued its quarterly earnings results 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 return on equity of 15.54% and a net margin of 9.26%.The company’s quarterly 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 earnings per share. On average, research analysts forecast that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SLB. UBS Group increased their price target on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Piper Sandler lifted their target price on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Jefferies Financial Group restated a “buy” rating and issued a $65.00 price objective on shares of SLB in a report on Sunday, April 26th. Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 target price on shares of SLB in a research report on Tuesday. Finally, The Goldman Sachs Group increased their price target on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.83.

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 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 $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. Corporate insiders own 0.16% of the company’s stock.

Trending Headlines about SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB launched a new Digital Marketplace for AI tools and applications, expanding its digital ecosystem and reinforcing its software growth strategy. SLB Expands Digital Reach With New AI Marketplace Platform
• Positive Sentiment: Management signaled a long-term push to double digital business revenue and core profit by 2030, with reports also highlighting up to $2 billion in digital revenue and $10 billion in annual digital spending opportunities. SLB aims to double digital business revenue up to $2B by 2030
• Positive Sentiment: Traders showed strong bullish positioning, with unusual options activity skewing toward calls and volume running well above normal.
• Neutral Sentiment: SLB received added visibility after CEO Olivier Le Peuch appeared on CNBC with Jim Cramer and the company’s investor-day commentary continued to circulate among investors. SLB CEO Olivier Le Peuch goes one-on-one with Jim Cramer
• Neutral Sentiment: Market interest also picked up after reports noted SLB and Nvidia’s long-running partnership and the company became a trending stock on Zacks, which may be amplifying trading volume. Nvidia’s Next Huge Bet: Drill, Baby, Drill!

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.