Sanctuary Advisors LLC Boosts Holdings in SLB Limited $SLB

Sanctuary Advisors LLC boosted its holdings in SLB Limited (NYSE:SLB) by 89.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 478,183 shares of the oil and gas company’s stock after purchasing an additional 226,031 shares during the quarter. Sanctuary Advisors LLC’s holdings in SLB were worth $24,574,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MV Capital Management Inc. bought a new stake in SLB in the 4th quarter valued at $28,000. Strategic Wealth Advisors LLC bought a new position in shares of SLB during the 4th quarter valued at about $30,000. Costello Asset Management INC boosted its holdings in shares of SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 280 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of SLB during the fourth quarter valued at about $31,000. Finally, Steph & Co. grew its position in shares of SLB by 97.5% during the fourth 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. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SLB

In other news, 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 value of $108,660.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’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 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. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on SLB. JPMorgan Chase & Co. boosted their target price on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Wolfe Research began coverage on SLB in a report on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price target for the company. Piper Sandler lifted their price objective on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $65.00 price objective on shares of SLB in a research note on Sunday, April 26th. Finally, Raymond James Financial decreased their price objective on SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.65.

SLB Stock Performance

SLB stock opened at $47.56 on Thursday. The company’s 50-day moving average price is $52.14 and its 200-day moving average price is $50.18. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a market cap of $71.11 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.93 and a beta of 0.72. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82.

SLB (NYSE:SLB) last announced 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 firm had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 EPS. On average, equities research analysts forecast that SLB Limited will post 2.58 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is presently 51.53%.

Key Stories Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: The Liberty Energy partnership opens a potential new revenue stream for SLB in AI data center infrastructure and power, expanding the company beyond traditional oilfield services. SLB partners with Liberty Energy to supply modular parts, power to data centers
• Positive Sentiment: SLB said it has already shipped more than 1.3 gigawatts of data center infrastructure since April 2024, with cumulative deliveries expected to exceed 2 gigawatts by the end of 2026, suggesting growing traction in this business line. SLB, Liberty Energy to Form Strategic Alliance for Data Center Infrastructure and Power
• Neutral Sentiment: Recent commentary says SLB still looks undervalued on some fair-value and discounted cash flow measures, which may support the stock, but that view depends on execution and investor confidence in the new data-center strategy. SLB (SLB) Stock Still Trades At A Discount To Fair Value
• Neutral Sentiment: SLB also won a Baleine Phase 3 EPC contract, which adds to subsea backlog and reinforces offshore growth, but this is more of a steady operational win than a major near-term catalyst. SLB Wins Multi-Well EPC Contract for the Baleine Phase 3 Development

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.