Havemeyer Place LP Buys New Shares in SLB Limited $SLB

Havemeyer Place LP bought a new stake in shares of SLB Limited (NYSE:SLB) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 96,433 shares of the oil and gas company’s stock, valued at approximately $3,701,000. SLB comprises approximately 0.7% of Havemeyer Place LP’s investment portfolio, making the stock its 12th biggest holding.

Other large investors have also recently bought and sold shares of the company. Strategic Wealth Advisors LLC acquired a new position in SLB during the 4th quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in SLB during the 4th quarter valued at $31,000. Steph & Co. raised its stake in SLB by 97.5% during the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 394 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in SLB during the 4th quarter valued at $31,000. Finally, Bruce G. Allen Investments LLC raised its stake in SLB by 37.0% during the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 227 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Trading Down 5.6%

Shares of SLB stock opened at $54.79 on Friday. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. The stock has a market cap of $81.91 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 2.22 and a beta of 0.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The firm has a fifty day moving average of $54.22 and a 200-day moving average of $47.80.

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, beating analysts’ consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

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. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. SLB’s dividend payout ratio is presently 51.53%.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction dated 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. The trade was a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on SLB. Stifel Nicolaus upped their target price on shares of SLB from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Evercore reiterated an “outperform” rating and set a $64.00 target price on shares of SLB in a research note on Monday, April 27th. Morgan Stanley set a $57.00 target price on shares of SLB in a research note on Monday, April 27th. Sanford C. Bernstein increased their price objective on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, 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 note on Wednesday, April 29th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

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.