Greenwood Capital Associates LLC Buys Shares of 89,482 SLB Limited $SLB

Greenwood Capital Associates LLC purchased a new stake in SLB Limited (NYSE:SLB) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 89,482 shares of the oil and gas company’s stock, valued at approximately $4,598,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLB. MV Capital Management Inc. purchased a new position in SLB during the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC purchased a new stake in SLB during the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in SLB during the fourth quarter worth $31,000. Steph & Co. boosted its position 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 acquiring an additional 394 shares in the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of SLB in the 4th quarter valued at $31,000. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction 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 approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SLB. BMO Capital Markets boosted their price target on SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of SLB in a research note on Tuesday, June 16th. TD Cowen reduced their target price on shares of SLB from $66.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Evercore reissued an “outperform” rating and set a $64.00 price target on shares of SLB in a research report on Monday, April 27th. Finally, Piper Sandler raised their price target on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.74.

SLB Stock Up 1.9%

Shares of SLB stock opened at $47.32 on Thursday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The stock’s fifty day moving average price is $52.98 and its 200 day moving average price is $49.85. 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 $70.74 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72.

SLB (NYSE:SLB) last released its quarterly earnings results 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. The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. On average, research analysts expect that SLB Limited will post 2.6 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 issued a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. SLB’s dividend payout ratio is 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.