Kercheville Advisors LLC Cuts Position in SLB Limited $SLB

Kercheville Advisors LLC decreased its position in SLB Limited (NYSE:SLB) by 37.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,400 shares of the oil and gas company’s stock after selling 12,600 shares during the quarter. Kercheville Advisors LLC’s holdings in SLB were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. 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 stake in shares of SLB in the 4th quarter worth about $238,000. Marshall Wace LLP bought a new stake in shares of SLB in the 2nd quarter worth about $8,628,000. Nebula Research & Development LLC raised its position in shares of SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock valued at $824,000 after buying an additional 10,522 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its position in shares of SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock valued at $373,000 after buying an additional 799 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction on 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 in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the sale, the director directly owned 16,953 shares of the company’s stock, valued at $921,056.49. This represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on SLB shares. The Goldman Sachs Group lifted their price target on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. JPMorgan Chase & Co. upped their price objective on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Citigroup raised their price objective on SLB from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Piper Sandler lifted their target price on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, UBS Group boosted their target price on SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.83.

SLB Price Performance

SLB stock opened at $47.93 on Wednesday. The stock has a market cap of $71.66 billion, a PE ratio of 20.93, a P/E/G ratio of 1.92 and a beta of 0.70. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a 50-day moving average price of $54.52 and a 200 day moving average price of $49.27. 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 (NYSE:SLB) last announced its quarterly earnings data 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 the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 earnings per share. Equities research analysts anticipate that SLB Limited will post 2.62 earnings per share for the current year.

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given 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 dividend payout ratio is 51.53%.

SLB Company 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.