Goehring & Rozencwajg Associates LLC Acquires 755,155 Shares of SLB Limited $SLB

Goehring & Rozencwajg Associates LLC raised its holdings in shares of SLB Limited (NYSE:SLB) by 415.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 936,962 shares of the oil and gas company’s stock after buying an additional 755,155 shares during the quarter. SLB comprises 3.5% of Goehring & Rozencwajg Associates LLC’s portfolio, making the stock its 12th largest holding. Goehring & Rozencwajg Associates LLC’s holdings in SLB were worth $35,961,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SLB. Brighton Jones LLC lifted its position in SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC bought a new position in SLB during the fourth quarter valued at $238,000. Marshall Wace LLP bought a new position in SLB during the second quarter valued at $8,628,000. Nebula Research & Development LLC lifted its position in SLB by 76.0% during the second quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock valued at $824,000 after purchasing an additional 10,522 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its position in SLB by 7.6% during the second quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock valued at $373,000 after purchasing an additional 799 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, 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 transaction of $108,660.00. Following the completion of the sale, the director owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB 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 sale, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was 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 currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on SLB shares. Jefferies Financial Group reiterated a “buy” rating and set a $65.00 price objective on shares of SLB in a research report on Sunday, April 26th. UBS Group increased their price objective on shares of SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Morgan Stanley set a $57.00 price objective on shares of SLB in a research report on Monday, April 27th. Weiss Ratings lowered shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, Piper Sandler increased their price objective on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

SLB Price Performance

SLB stock opened at $56.03 on Friday. The firm has a 50-day moving average price of $54.64 and a 200-day moving average price of $48.51. The firm has a market capitalization of $83.76 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 2.27 and a beta of 0.70. 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 Limited has a 12-month low of $31.64 and a 12-month high of $58.82.

SLB (NYSE:SLB) last released 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 firm had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS. As a group, equities research analysts forecast that SLB Limited will post 2.62 EPS for the current year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is 51.53%.

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.