Brooklands Fund Management Ltd Reduces Holdings in SLB Limited $SLB

Brooklands Fund Management Ltd decreased its position in shares of SLB Limited (NYSE:SLB) by 71.1% during the first quarter, HoldingsChannel reports. The fund owned 16,000 shares of the oil and gas company’s stock after selling 39,381 shares during the quarter. SLB accounts for approximately 0.9% of Brooklands Fund Management Ltd’s investment portfolio, making the stock its 26th largest holding. Brooklands Fund Management Ltd’s holdings in SLB were worth $839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 1,080,999 shares during the last quarter. State Street Corp boosted its position in shares of SLB by 1.0% during the fourth quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock valued at $3,263,998,000 after buying an additional 799,218 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of SLB by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock valued at $2,072,844,000 after buying an additional 1,458,650 shares during the last quarter. Morgan Stanley grew its stake in shares of SLB by 1.3% during the fourth quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock valued at $1,423,716,000 after buying an additional 482,533 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of 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 worth $1,292,993,000 after buying an additional 510,747 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent analyst reports. Piper Sandler boosted their price objective on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Weiss Ratings downgraded SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. BMO Capital Markets boosted their target price on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Jefferies Financial Group restated a “buy” rating and issued a $65.00 price target on shares of SLB in a report on Sunday, April 26th. Finally, Sanford C. Bernstein raised their price target on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.30.

SLB Price Performance

Shares of SLB opened at $47.25 on Friday. The company has a 50 day moving average price of $51.22 and a 200-day moving average price of $50.54. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The stock has a market capitalization of $70.65 billion, a PE ratio of 20.63, a PEG ratio of 1.93 and a beta of 0.72. 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 data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company 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%. SLB’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Equities analysts predict that SLB Limited will post 2.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’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 transaction, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company’s stock.

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.