Gator Capital Management LLC Acquires Shares of 57,425 SLB Limited $SLB

Gator Capital Management LLC acquired a new stake in SLB Limited (NYSE:SLB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 57,425 shares of the oil and gas company’s stock, valued at approximately $2,204,000.

Other hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in SLB by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock valued at $126,303,000 after acquiring an additional 128,660 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in shares of SLB in the 3rd quarter worth $3,334,000. Cibc World Market Inc. lifted its holdings in shares of SLB by 48.7% in the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock worth $52,468,000 after buying an additional 447,667 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of SLB by 65.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock worth $7,898,000 after buying an additional 81,045 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of SLB by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 1,719,469 shares of the oil and gas company’s stock worth $65,993,000 after buying an additional 42,212 shares during the period. Institutional investors own 81.99% of the company’s stock.

SLB Trading Up 0.0%

Shares of NYSE SLB opened at $56.03 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The stock has a market capitalization of $83.76 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 2.27 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 business has a fifty day moving average price of $54.64 and a 200 day moving average price of $48.51.

SLB (NYSE:SLB) last issued its quarterly earnings data 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. 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%.The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. Equities research analysts expect that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Dividend Announcement

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 paid 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 is 51.53%.

Insiders Place Their Bets

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the sale, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SLB shares. BMO Capital Markets upped their target price on SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Evercore reiterated an “outperform” rating and issued a $64.00 target price on shares of SLB in a report on Monday, April 27th. Stifel Nicolaus upped their target price on SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, April 27th. The Goldman Sachs Group upped their target price on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, TD Cowen upped their target price on SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Three equities research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

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.