Illinois Municipal Retirement Fund Acquires Shares of 20,638 SLB Limited $SLB

Illinois Municipal Retirement Fund bought a new position in SLB Limited (NYSE:SLB) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,638 shares of the oil and gas company’s stock, valued at approximately $1,061,000.

Other institutional investors have also made changes to their positions in the company. Goehring & Rozencwajg Associates LLC boosted its stake in SLB by 145.3% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 2,298,550 shares of the oil and gas company’s stock worth $118,122,000 after purchasing an additional 1,361,588 shares during the period. Geneos Wealth Management Inc. raised its stake in SLB by 8.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 127,794 shares of the oil and gas company’s stock valued at $6,567,000 after purchasing an additional 9,586 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in SLB during the 1st quarter valued at $360,000. Sanctuary Advisors LLC lifted its holdings in shares of SLB by 89.6% in the first quarter. Sanctuary Advisors LLC now owns 478,183 shares of the oil and gas company’s stock valued at $24,574,000 after purchasing an additional 226,031 shares in the last quarter. Finally, Camden National Bank purchased a new stake in shares of SLB in the first quarter valued at $207,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Trading Up 2.4%

Shares of NYSE:SLB opened at $47.72 on Thursday. The firm has a fifty day moving average of $51.39 and a two-hundred day moving average of $50.49. 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 12-month low of $31.64 and a 12-month high of $58.82. The firm has a market capitalization of $71.34 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72.

SLB (NYSE:SLB) last posted its quarterly 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 net margin of 9.26% and a return on equity of 15.54%. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the prior year, the business posted $0.72 earnings per share. SLB’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts expect that SLB Limited will post 2.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SLB. Weiss Ratings downgraded SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Sanford C. Bernstein increased 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. Citigroup decreased their price objective on SLB from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. JPMorgan Chase & Co. lifted 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. Finally, Evercore reiterated an “outperform” rating and issued a $64.00 target price on shares of SLB in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.30.

Insider Transactions at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction dated Thursday, May 7th. The shares were 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 approximately $921,056.49. This represents 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.

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.