Capital Management Associates NY Purchases New Shares in SLB Limited $SLB

Capital Management Associates NY acquired a new stake in SLB Limited (NYSE:SLB) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 17,000 shares of the oil and gas company’s stock, valued at approximately $874,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of SLB by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock valued at $7,156,177,000 after acquiring an additional 1,080,999 shares during the period. State Street Corp raised its holdings in SLB by 1.0% in the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock worth $3,263,998,000 after purchasing an additional 799,218 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in SLB by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock worth $2,072,844,000 after purchasing an additional 1,458,650 shares during the period. Morgan Stanley boosted its position in SLB by 1.3% during the fourth quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock worth $1,423,716,000 after purchasing an additional 482,533 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in SLB by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock valued at $1,292,993,000 after purchasing an additional 510,747 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SLB. Barclays increased their target price on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. TD Cowen decreased their price objective on shares of SLB from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Citigroup dropped their target price on shares of SLB from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Jefferies Financial Group restated a “buy” rating and set a $65.00 price target on shares of SLB in a research report on Sunday, April 26th. Finally, JPMorgan Chase & Co. lifted their price objective on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has issued 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 $59.80.

SLB Trading Down 0.8%

Shares of SLB opened at $47.38 on Tuesday. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The firm has a market capitalization of $70.83 billion, a P/E ratio of 20.69, a P/E/G ratio of 1.94 and a beta of 0.72. The firm has a 50-day moving average price of $52.46 and a 200 day moving average price of $50.05. 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 posted its earnings results 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. The company had revenue of $8.72 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 EPS. Sell-side analysts forecast that SLB Limited will post 2.59 EPS for the current year.

SLB Announces Dividend

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

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the transaction, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction dated 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 directly owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.

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.