New York Life Investment Management LLC Has $7.85 Million Position in SLB Limited $SLB

New York Life Investment Management LLC reduced its holdings in SLB Limited (NYSE:SLB) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 204,633 shares of the oil and gas company’s stock after selling 11,488 shares during the quarter. New York Life Investment Management LLC’s holdings in SLB were worth $7,854,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLB. Root Financial Partners LLC acquired a new stake in shares of SLB in the third quarter valued at about $29,000. Strategic Wealth Advisors LLC acquired a new stake in shares of SLB in the fourth quarter valued at about $30,000. Strengthening Families & Communities LLC acquired a new stake in shares of SLB in the third quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB in the fourth quarter valued at about $31,000. Finally, Steph & Co. grew its position 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 valued at $31,000 after purchasing an additional 394 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group lifted their target price on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Weiss Ratings downgraded SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Piper Sandler lifted their target price on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Sanford C. Bernstein lifted their target price on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Evercore reissued an “outperform” rating and set a $64.00 target price on shares of SLB in a research report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.74.

SLB Stock Down 0.8%

SLB stock opened at $55.33 on Friday. SLB Limited has a twelve month low of $31.64 and a twelve month high of $57.20. The company has a market cap of $82.72 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 3.90 and a beta of 0.72. The business’s 50-day simple moving average is $51.44 and its 200 day simple moving average is $45.70. 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 announced its quarterly earnings results 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 firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. On average, research analysts anticipate that SLB Limited will post 2.61 earnings per share for the current year.

SLB Announces Dividend

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

Insider Transactions at SLB

In other SLB 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 transaction of $2,998,832.22. Following the completion of the transaction, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by company 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.