Capital Innovations LLC Buys Shares of 531,546 SLB Limited $SLB

Capital Innovations LLC bought a new stake in SLB Limited (NYSE:SLB) during the 4th quarter, Holdings Channel reports. The firm bought 531,546 shares of the oil and gas company’s stock, valued at approximately $20,401,000. SLB accounts for about 5.8% of Capital Innovations LLC’s portfolio, making the stock its 2nd largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of SLB. Strategic Wealth Advisors LLC acquired a new stake in shares of SLB in the 4th quarter valued at approximately $30,000. Strengthening Families & Communities LLC acquired a new stake in shares of SLB in the 3rd quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB in the 4th quarter valued at approximately $31,000. Steph & Co. lifted its holdings in shares of SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 394 shares during the period. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of SLB in the 4th quarter valued at approximately $31,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Stock Performance

Shares of SLB stock opened at $56.57 on Wednesday. The stock has a fifty day moving average price of $53.66 and a 200 day moving average price of $47.32. The stock has a market cap of $84.58 billion, a PE ratio of 24.70, a P/E/G ratio of 2.22 and a beta of 0.70. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.SLB’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. Sell-side analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.1%. SLB’s payout ratio is currently 51.53%.

Analysts Set New Price Targets

Several research firms have recently commented on SLB. The Goldman Sachs Group raised their price target on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of SLB in a report on Monday, April 27th. TD Cowen raised their price target on SLB from $55.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 27th. Susquehanna raised their price target on SLB from $60.00 to $65.00 and gave the company a “positive” rating in a report on Monday, April 27th. Finally, Wall Street Zen cut SLB from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.74.

Insider Buying and Selling at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the transaction, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was 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 of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.