SLB Limited $SLB Shares Sold by RBF Capital LLC

RBF Capital LLC trimmed its holdings in SLB Limited (NYSE:SLB) by 44.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 50,000 shares of the oil and gas company’s stock after selling 40,000 shares during the period. RBF Capital LLC’s holdings in SLB were worth $2,570,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. Evergreen Advisors LLC acquired a new position in shares of SLB in the 1st quarter valued at $26,000. Costello Asset Management INC grew its holdings in shares of SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 280 shares during the period. MV Capital Management Inc. acquired a new stake in shares of SLB during the 4th quarter worth about $28,000. Sound Income Strategies LLC raised its holdings in SLB by 71.1% in the 1st quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 324 shares during the period. Finally, Steph & Co. raised its holdings in SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 394 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were 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 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the transaction, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SLB shares. BMO Capital Markets increased their target price on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday. Wolfe Research assumed coverage on shares of SLB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price target on the stock. Stifel Nicolaus upped their price objective on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Susquehanna increased their price objective on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research report on Monday. Finally, Raymond James Financial dropped their target price on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.35.

SLB Stock Performance

Shares of SLB stock opened at $49.07 on Thursday. The business has a 50-day moving average of $50.75 and a 200 day moving average of $50.74. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The stock has a market capitalization of $73.36 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 3.32 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05.

SLB (NYSE:SLB) last issued its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. As a group, sell-side analysts forecast that SLB Limited will post 2.49 earnings per share for the current year.

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be issued a $0.295 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.4%. SLB’s payout ratio is 57.00%.

Key Headlines Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB beat second-quarter expectations, reporting $0.55 in earnings per share versus the $0.51 consensus estimate and $8.97 billion in revenue versus $8.67 billion expected. Revenue increased 5% year over year, supporting the view that international oilfield-services activity remains resilient. The results also increased attention on energy ETFs with significant SLB exposure, including IEZ, OIH and XLE. Here’s How SLB’s Q2 Earnings Impact Energy ETFs
• Positive Sentiment: BMO Capital Markets raised its SLB price target to $63, while Morgan Stanley said the stock is expected to rise. Goldman Sachs reiterated a Buy rating with a $62 target, citing an international recovery, data-center expansion opportunities and potential for above-peer earnings and returns. These targets imply meaningful upside from recent trading levels. BMO Capital Markets Increases SLB Price Target to $63.00 SLB Stock Price Expected to Rise, Morgan Stanley Analyst Says
• Positive Sentiment: Longer-term valuation analysis described SLB as reasonably priced, with potential upside based on discounted cash-flow estimates. Offshore scale, digital services, production gains from ChampionX and data-center infrastructure initiatives are cited as growth drivers. SLB Stock Looks Reasonable Despite Its Five Year Run
• Neutral Sentiment: SLB has attracted unusually high investor and Zacks.com user interest following its earnings report, but the attention itself does not establish a clear change in fundamentals or valuation. SLB Is Attracting Investor Attention
• Negative Sentiment: Zacks Research downgraded SLB from “hold” to “strong sell,” likely weighing on sentiment and helping explain why the stock has decreased despite the earnings beat and bullish broker targets. Zacks Downgrades SLB
• Negative Sentiment: Near-term risks include Middle East disruptions, uncertainty around oil prices, elevated net debt and the possibility that earnings growth will take longer to materialize. SLB’s $0.55 quarterly EPS also remained below the $0.74 reported in the prior-year period. SLB Growth Outlook Hinges on Offshore, Digital and Production Gains

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.