121,700 Shares in SLB Limited $SLB Bought by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC bought a new stake in SLB Limited (NYSE:SLB) during the 1st quarter, Holdings Channel reports. The institutional investor bought 121,700 shares of the oil and gas company’s stock, valued at approximately $6,254,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fearnley Asset Management AS acquired a new stake in shares of SLB during the 4th quarter worth about $8,574,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in SLB by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock worth $126,303,000 after purchasing an additional 128,660 shares during the last quarter. Cibc World Market Inc. boosted its holdings in SLB by 48.7% in the fourth quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock valued at $52,468,000 after purchasing an additional 447,667 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in SLB in the first quarter valued at approximately $47,528,000. Finally, Oppenheimer & Co. Inc. increased its stake in SLB by 65.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock valued at $7,898,000 after purchasing an additional 81,045 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Trading Down 2.3%

SLB opened at $46.71 on Thursday. 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 Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The business’s 50 day moving average is $54.41 and its two-hundred day moving average is $49.33. The firm has a market cap of $69.83 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.92 and a beta of 0.70.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating 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 company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. On average, research analysts predict that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. SLB’s dividend payout ratio is currently 51.53%.

Analysts Set New Price Targets

SLB has been the topic of a number of research analyst reports. TD Cowen raised their price objective on shares of SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 27th. UBS Group upped their target price on shares of SLB from $61.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Citigroup increased their target price on shares of SLB from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. 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. Finally, Weiss Ratings cut shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Three 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.83.

Insiders Place Their Bets

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of SLB 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’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 sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by corporate insiders.

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.