SLB Limited $SLB Shares Sold by Vision Capital Management Inc.

Vision Capital Management Inc. lessened its stake in SLB Limited (NYSE:SLB) by 10.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 110,182 shares of the oil and gas company’s stock after selling 12,226 shares during the period. Vision Capital Management Inc.’s holdings in SLB were worth $5,662,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLB. MV Capital Management Inc. acquired a new position in shares of SLB during the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC acquired a new stake in SLB in the fourth quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in SLB in the fourth quarter worth approximately $31,000. Steph & Co. boosted its stake in SLB by 97.5% during the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 394 shares in the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of SLB during the 4th quarter valued at $31,000. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings lowered SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Barclays boosted their price target on shares of SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. UBS Group cut their price target on shares of SLB from $69.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday. Sanford C. Bernstein raised their price objective on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Piper Sandler lifted their price objective on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Insider Activity at SLB

In related news, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $108,660.00. Following the transaction, the director 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 disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by corporate insiders.

SLB Trading Down 2.9%

Shares of NYSE SLB opened at $45.12 on Thursday. 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 Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a market cap of $67.46 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 1.87 and a beta of 0.73. The business has a fifty day simple moving average of $53.85 and a 200-day simple moving average of $49.59.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the previous year, the company earned $0.72 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts predict that SLB Limited will post 2.62 EPS for the current year.

SLB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.6%. SLB’s payout ratio is currently 51.53%.

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, a deal that should support applied research, technology deployment and digital innovation work over a long period. SLB Awarded Seven-Year Contract Under Kuwait Oil Company’s Ahmadi Innovation Valley Initiative
• Positive Sentiment: Industrial Realty Group said SLB expanded its long-term lease in Shreveport, showing continued operational growth and commitment to the site. IRG Expands Long-Term Lease with SLB in Shreveport, LA
• Positive Sentiment: Citigroup lowered its price target to $63 from $68, but kept a Buy rating, signaling the stock still has meaningful upside from current levels. Benzinga report on Citigroup price target cut
• Neutral Sentiment: Several commentary pieces argued SLB may be oversold after a sharp multi-week selloff, with analysts still revising earnings estimates higher; this could help support a rebound, but it is not a direct catalyst. Down 15.3% in 4 Weeks, Here’s Why You Should You Buy the Dip in SLB (SLB)
• Neutral Sentiment: Multiple articles compared SLB with other stocks on valuation, which is generally more of a discussion topic than a direct stock-moving event. SLB vs. NPO: Which Stock Is the Better Value Option?
• Negative Sentiment: News that a peace deal in Iran is pressuring oil prices is hurting the energy complex and contributing to weakness in SLB. This Energy Stock Tops My July Buy List
• Negative Sentiment: One market note highlighted SLB’s recent weakness and said the stock continues to trade lower as broader market conditions and oil-related concerns remain in focus. SLB (SLB) Stock Sinks As Market Gains: Here’s Why

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.