Tejara Capital Ltd Increases Stake in SLB Limited $SLB

Tejara Capital Ltd lifted its position in SLB Limited (NYSE:SLB) by 25.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,459 shares of the oil and gas company’s stock after acquiring an additional 34,700 shares during the quarter. SLB accounts for 1.6% of Tejara Capital Ltd’s portfolio, making the stock its 12th largest position. Tejara Capital Ltd’s holdings in SLB were worth $6,657,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new stake in SLB in the 3rd quarter worth about $29,000. Strategic Wealth Advisors LLC purchased a new position in shares of SLB during the fourth quarter valued at approximately $30,000. Strengthening Families & Communities LLC bought a new position in shares of SLB during the third quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SLB during the fourth quarter valued at approximately $31,000. Finally, Steph & Co. raised its holdings in shares of SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after buying an additional 394 shares during the period. 81.99% of the stock is currently owned by institutional investors.

SLB Trading Up 0.6%

Shares of NYSE SLB opened at $55.70 on Friday. SLB Limited has a twelve month low of $31.64 and a twelve month high of $57.20. The firm has a market cap of $83.28 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 3.90 and a beta of 0.72. The business has a fifty day simple moving average of $51.29 and a two-hundred day simple moving average of $45.63. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) 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 the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 EPS. Analysts expect that SLB Limited will post 2.61 earnings per share for the current fiscal year.

SLB Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently issued reports on SLB. Weiss Ratings cut SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. 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 note on Monday, April 27th. Freedom Capital downgraded SLB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Evercore reissued an “outperform” rating and set a $64.00 target price on shares of SLB in a research note on Monday, April 27th. Finally, Bank of America upped their price target on shares of SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.74.

Insider Transactions at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred 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 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. The SEC filing for this sale provides additional information. Company insiders own 0.16% of the company’s stock.

About SLB

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.