First Trust Advisors LP Purchases 140,329 Shares of SLB Limited $SLB

First Trust Advisors LP boosted its position in shares of SLB Limited (NYSE:SLB) by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,226,322 shares of the oil and gas company’s stock after acquiring an additional 140,329 shares during the period. First Trust Advisors LP owned 0.15% of SLB worth $114,411,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Evergreen Advisors LLC purchased a new stake in SLB in the first quarter valued at approximately $26,000. MV Capital Management Inc. bought a new stake in SLB during the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC purchased a new position in SLB in the 4th quarter worth approximately $30,000. Costello Asset Management INC grew its stake in SLB by 93.3% in the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after buying an additional 280 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SLB in the 4th quarter worth $31,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the sale, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president directly owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by insiders.

SLB Stock Performance

Shares of SLB stock opened at $47.25 on Friday. The company has a market capitalization of $70.65 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 1.93 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The company’s 50-day moving average is $51.22 and its 200 day moving average is $50.54.

SLB (NYSE:SLB) last issued its 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 business had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. Sell-side analysts expect that SLB Limited will post 2.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research reports. Royal Bank Of Canada restated an “outperform” rating and set a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. Evercore reissued an “outperform” rating and set a $64.00 price target on shares of SLB in a research report on Monday, April 27th. Barclays reduced their target price on SLB from $66.00 to $64.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Wolfe Research started coverage on shares of SLB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price target for the company. Finally, Stifel Nicolaus increased their price objective on SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.30.

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.