XXEC Inc. Sells 17,755 Shares of SLB Limited $SLB

XXEC Inc. trimmed its position in shares of SLB Limited (NYSE:SLB) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,265 shares of the oil and gas company’s stock after selling 17,755 shares during the period. SLB comprises approximately 5.0% of XXEC Inc.’s portfolio, making the stock its 9th biggest holding. XXEC Inc.’s holdings in SLB were worth $5,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. MV Capital Management Inc. acquired a new position in shares of SLB during the 4th quarter worth $28,000. Strategic Wealth Advisors LLC acquired a new stake in shares of SLB in the 4th quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB in the 4th quarter valued at $31,000. Steph & Co. boosted its holdings in SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 394 shares in the last quarter. Finally, Lloyd Advisory Services LLC. bought a new stake in SLB in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of several analyst reports. TD Cowen increased their target price on shares of SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Wall Street Zen downgraded SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. UBS Group increased their price objective on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of SLB in a research note on Tuesday. Finally, Jefferies Financial Group restated a “buy” rating and issued a $65.00 target price on shares of SLB in a report on Sunday, April 26th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.83.

SLB Stock Performance

Shares of NYSE SLB opened at $48.12 on Friday. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a market cap of $71.95 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.95 and a beta of 0.70. The business’s 50 day moving average is $54.69 and its two-hundred day moving average is $49.02. 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 (NYSE:SLB) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business 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 firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, equities analysts expect that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s payout ratio is 51.53%.

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.