Genus Capital Management Inc. Makes New Investment in SLB Limited $SLB

Genus Capital Management Inc. purchased a new position in SLB Limited (NYSE:SLB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 25,000 shares of the oil and gas company’s stock, valued at approximately $960,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. HBK Sorce Advisory LLC lifted its stake in shares of SLB by 4.1% in the 4th quarter. HBK Sorce Advisory LLC now owns 14,358 shares of the oil and gas company’s stock valued at $551,000 after purchasing an additional 560 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of SLB by 7.5% in the 4th quarter. Hantz Financial Services Inc. now owns 5,104 shares of the oil and gas company’s stock valued at $196,000 after purchasing an additional 357 shares in the last quarter. Swedbank AB lifted its stake in shares of SLB by 24.4% in the 4th quarter. Swedbank AB now owns 617,630 shares of the oil and gas company’s stock valued at $23,705,000 after purchasing an additional 121,174 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of SLB in the 4th quarter valued at about $44,000. Finally, Heritage Wealth Management Inc. Texas lifted its stake in shares of SLB by 7.9% in the 4th quarter. Heritage Wealth Management Inc. Texas now owns 12,171 shares of the oil and gas company’s stock valued at $467,000 after purchasing an additional 895 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Performance

Shares of NYSE:SLB opened at $57.27 on Tuesday. The company has a market cap of $85.63 billion, a P/E ratio of 25.01, a PEG ratio of 2.32 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. SLB Limited has a one year low of $31.64 and a one year high of $57.88. The business’s 50-day simple moving average is $52.66 and its 200 day simple moving average is $46.65.

SLB (NYSE:SLB) last announced its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. On average, sell-side analysts forecast that SLB Limited will post 2.61 earnings per share for the current fiscal year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. 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 presently 51.53%.

Insider Activity

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm’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 in the company, valued at approximately $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SLB. Argus raised SLB to a “strong-buy” rating in a research note on Monday, January 26th. TD Cowen lifted their price objective on SLB from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Sanford C. Bernstein lifted their price objective on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Barclays lifted their price objective on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Freedom Capital lowered SLB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Three 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.74.

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.