Poehling Capital Management INC. Boosts Stake in SLB Limited $SLB

Poehling Capital Management INC. grew its position in shares of SLB Limited (NYSE:SLB) by 65.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 74,949 shares of the oil and gas company’s stock after buying an additional 29,546 shares during the quarter. Poehling Capital Management INC.’s holdings in SLB were worth $3,852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLB. Private Wealth Asset Management LLC grew its holdings in shares of SLB by 4.1% in the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock valued at $193,000 after acquiring an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in SLB by 9.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock worth $129,000 after acquiring an additional 214 shares during the period. Ballentine Partners LLC lifted its holdings in SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after acquiring an additional 218 shares during the period. Davis Capital Management boosted its position in SLB by 1.0% in the first quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock worth $1,129,000 after purchasing an additional 220 shares during the last quarter. Finally, Bruce G. Allen Investments LLC boosted its position in SLB by 37.0% in the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on SLB shares. Weiss Ratings downgraded SLB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Morgan Stanley set a $57.00 price target on shares of SLB in a report on Monday, April 27th. Piper Sandler upped their price objective on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Citigroup increased their target price on shares of SLB from $59.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 target price on shares of SLB in a research note on Sunday, April 26th. Three investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.83.

SLB Price Performance

SLB stock opened at $46.95 on Friday. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The business has a 50-day simple moving average of $54.22 and a 200 day simple moving average of $49.37. 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 stock has a market cap of $70.19 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.90 and a beta of 0.70.

SLB (NYSE:SLB) last announced 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. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same period in the prior year, the company earned $0.72 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is 51.53%.

Insider Buying and Selling

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