Carlson Capital L.P. Buys New Shares in SLB Limited $SLB

Carlson Capital L.P. purchased a new stake in shares of SLB Limited (NYSE:SLB) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 42,822 shares of the oil and gas company’s stock, valued at approximately $2,201,000. SLB accounts for 0.7% of Carlson Capital L.P.’s investment portfolio, making the stock its 15th largest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Evergreen Advisors LLC bought a new position in shares of SLB during the 1st quarter valued at approximately $26,000. MV Capital Management Inc. purchased a new position in SLB during the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC bought a new position in shares of SLB in the fourth quarter worth approximately $30,000. Costello Asset Management INC increased its stake in shares of SLB by 93.3% in the first quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 280 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SLB during the 4th quarter valued at $31,000. Institutional investors own 81.99% of the company’s stock.

SLB Price Performance

Shares of SLB stock opened at $49.58 on Friday. The firm has a market cap of $73.59 billion, a PE ratio of 23.95, a PEG ratio of 3.24 and a beta of 0.72. The stock has a 50 day moving average of $50.43 and a 200 day moving average of $50.76. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. On average, research analysts expect that SLB Limited will post 2.49 EPS for the current fiscal year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 2nd. SLB’s payout ratio is currently 57.00%.

Wall Street Analyst Weigh In

SLB has been the subject of a number of analyst reports. Evercore reiterated an “outperform” rating and issued a $66.00 price target on shares of SLB in a research note on Monday. JPMorgan Chase & Co. increased 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. Zacks Research cut SLB from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. BMO Capital Markets increased their price objective on shares of SLB from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Finally, Stifel Nicolaus boosted their target price on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.35.

Insider Transactions at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the sale, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by insiders.

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.