McLaughlin Asset Management Inc. Takes $545,000 Position in SLB Limited $SLB

McLaughlin Asset Management Inc. bought a new position in shares of SLB Limited (NYSE:SLB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,198 shares of the oil and gas company’s stock, valued at approximately $545,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Strategic Wealth Advisors LLC purchased a new position in SLB in the 4th quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB during the fourth quarter valued at about $31,000. Steph & Co. increased its position in shares of SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 394 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new stake in shares of SLB during the fourth quarter worth about $31,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of SLB by 37.0% in the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 227 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by corporate insiders.

SLB Trading Down 4.4%

NYSE:SLB opened at $48.12 on Friday. The company has a market cap of $71.95 billion, a PE ratio of 21.01, a P/E/G ratio of 2.04 and a beta of 0.70. The business’s 50 day moving average is $54.77 and its two-hundred day moving average is $49.03. 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 Limited has a 52 week low of $31.64 and a 52 week high of $58.82.

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. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. During the same period last year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts predict 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. 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 2.5%. SLB’s payout ratio is 51.53%.

Key Headlines Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB launched a new Digital Marketplace for AI tools and applications, expanding its digital ecosystem and reinforcing its software growth strategy. SLB Expands Digital Reach With New AI Marketplace Platform
• Positive Sentiment: Management signaled a long-term push to double digital business revenue and core profit by 2030, with reports also highlighting up to $2 billion in digital revenue and $10 billion in annual digital spending opportunities. SLB aims to double digital business revenue up to $2B by 2030
• Positive Sentiment: Traders showed strong bullish positioning, with unusual options activity skewing toward calls and volume running well above normal.
• Neutral Sentiment: SLB received added visibility after CEO Olivier Le Peuch appeared on CNBC with Jim Cramer and the company’s investor-day commentary continued to circulate among investors. SLB CEO Olivier Le Peuch goes one-on-one with Jim Cramer
• Neutral Sentiment: Market interest also picked up after reports noted SLB and Nvidia’s long-running partnership and the company became a trending stock on Zacks, which may be amplifying trading volume. Nvidia’s Next Huge Bet: Drill, Baby, Drill!

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SLB. JPMorgan Chase & Co. raised their price objective on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. The Goldman Sachs Group upped their target price on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Jefferies Financial Group reissued a “buy” rating and set a $65.00 price target on shares of SLB in a research report on Sunday, April 26th. Piper Sandler lifted their price target on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, Citigroup upped their price target on shares of SLB from $59.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.83.

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.