SLB Limited $SLB Shares Acquired by Lmcg Investments LLC

Lmcg Investments LLC lifted its position in shares of SLB Limited (NYSE:SLB) by 16.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 124,345 shares of the oil and gas company’s stock after purchasing an additional 17,441 shares during the quarter. Lmcg Investments LLC’s holdings in SLB were worth $6,390,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Axxcess Wealth Management LLC raised its holdings in SLB by 37.4% in the first quarter. Axxcess Wealth Management LLC now owns 32,337 shares of the oil and gas company’s stock valued at $1,662,000 after buying an additional 8,806 shares during the period. Duncker Streett & Co. Inc. grew its stake in SLB by 8,145.7% during the first quarter. Duncker Streett & Co. Inc. now owns 71,490 shares of the oil and gas company’s stock worth $3,674,000 after buying an additional 70,623 shares during the period. Nicholas Hoffman & Company LLC. purchased a new stake in SLB during the first quarter worth approximately $235,000. Delta Capital Management LLC acquired a new stake in shares of SLB in the first quarter worth $236,000. Finally, Acuitas Investments LLC purchased a new position in shares of SLB in the 1st quarter valued at $421,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Wolfe Research began coverage on SLB in a research report on Wednesday. They issued an “outperform” rating and a $62.00 price objective on the stock. Sanford C. Bernstein boosted their price objective on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of SLB in a research report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. increased their target price on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.74.

SLB Price Performance

Shares of SLB stock opened at $47.32 on Thursday. The firm has a fifty day simple moving average of $52.98 and a 200-day simple moving average of $49.85. The company has a market capitalization of $70.74 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. Equities research analysts anticipate that SLB Limited will post 2.6 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. Investors of record on Wednesday, June 3rd will be paid a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. SLB’s payout ratio is 51.53%.

Insider Activity

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction that occurred 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 sale, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. The trade was a 52.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction that occurred 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 completion of 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 disclosure for this sale is available in the SEC filing. 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.