AlphaCore Capital LLC Takes Position in SLB Limited $SLB

AlphaCore Capital LLC purchased a new position in shares of SLB Limited (NYSE:SLB) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 21,232 shares of the oil and gas company’s stock, valued at approximately $820,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of SLB by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock worth $7,156,177,000 after acquiring an additional 1,080,999 shares during the period. State Street Corp grew its stake in shares of SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after acquiring an additional 5,466,786 shares during the period. First Eagle Investment Management LLC grew its stake in shares of SLB by 0.6% during the 4th quarter. First Eagle Investment Management LLC now owns 27,718,458 shares of the oil and gas company’s stock worth $1,063,834,000 after acquiring an additional 174,564 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of SLB by 25.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock worth $528,217,000 after acquiring an additional 3,094,764 shares during the period. Finally, Northern Trust Corp grew its stake in shares of SLB by 10.7% during the 3rd quarter. Northern Trust Corp now owns 15,359,990 shares of the oil and gas company’s stock worth $527,923,000 after acquiring an additional 1,490,859 shares during the period. Institutional investors own 81.99% of the company’s stock.

SLB Stock Up 3.3%

Shares of NYSE SLB opened at $57.22 on Tuesday. SLB Limited has a 52 week low of $31.64 and a 52 week high of $57.59. The business has a 50-day simple moving average of $51.64 and a two-hundred day simple moving average of $45.92. 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 company has a market cap of $85.55 billion, a P/E ratio of 24.99, a P/E/G ratio of 3.90 and a beta of 0.72.

SLB (NYSE:SLB) last issued its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. The business had revenue of $8.72 billion during 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 firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. Research analysts anticipate that SLB Limited will post 2.61 earnings per share for the current fiscal year.

SLB Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Susquehanna increased their price target on SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a research note on Monday, April 27th. Stifel Nicolaus increased their price target on SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and set a $65.00 price target on shares of SLB in a research note on Sunday, April 26th. Sanford C. Bernstein increased their price target on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, Morgan Stanley set a $57.00 price target on SLB in a research note on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and a consensus price target of $59.74.

Insider Transactions at SLB

In related news, 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 directly owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The sale 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 dated Friday, May 1st. The shares were 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 in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.