Oppenheimer & Co. Inc. Grows Stake in SLB Limited $SLB

Oppenheimer & Co. Inc. raised its stake in SLB Limited (NYSE:SLB) by 65.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 205,796 shares of the oil and gas company’s stock after acquiring an additional 81,045 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in SLB were worth $7,898,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. North Star Investment Management Corp. boosted its stake in SLB by 8.2% in the fourth quarter. North Star Investment Management Corp. now owns 3,853 shares of the oil and gas company’s stock valued at $148,000 after acquiring an additional 293 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in SLB in the fourth quarter valued at about $241,000. Jennison Associates LLC purchased a new position in SLB in the fourth quarter valued at about $8,547,000. Pekin Hardy Strauss Inc. raised its position in shares of SLB by 5.9% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 183,405 shares of the oil and gas company’s stock valued at $7,039,000 after purchasing an additional 10,281 shares during the period. Finally, Keybank National Association OH raised its position in shares of SLB by 7.5% in the fourth quarter. Keybank National Association OH now owns 113,951 shares of the oil and gas company’s stock valued at $4,373,000 after purchasing an additional 7,963 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Stock Performance

NYSE SLB opened at $57.00 on Friday. The company’s 50 day moving average is $50.67 and its 200-day moving average is $44.29. 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 firm has a market cap of $85.65 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 4.02 and a beta of 0.69. SLB Limited has a 12-month low of $31.64 and a 12-month high of $57.20.

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, topping analysts’ consensus estimates of $0.51 by $0.01. The business 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 quarter in the prior year, the firm posted $0.72 EPS. Sell-side analysts predict that SLB Limited will post 2.6 earnings per share for the current year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s dividend payout ratio is 51.53%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SLB shares. The Goldman Sachs Group boosted their price target on shares of SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. TD Cowen boosted their price target on shares of SLB from $55.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Susquehanna boosted their price target on shares of SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research report on Monday. Loop Capital set a $48.00 price target on shares of SLB in a research report on Tuesday, January 27th. Finally, Piper Sandler boosted their price target on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.95.

Insiders Place Their Bets

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the company’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 transaction of $2,998,832.22. Following the sale, the executive vice president owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.