Hendley & Co. Inc. Takes Position in SLB Limited $SLB

Hendley & Co. Inc. bought a new stake in SLB Limited (NYSE:SLB) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 79,120 shares of the oil and gas company’s stock, valued at approximately $4,066,000. SLB makes up approximately 1.5% of Hendley & Co. Inc.’s holdings, making the stock its 26th largest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. Private Wealth Asset Management LLC boosted its holdings in SLB by 4.1% in the fourth quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company’s stock worth $193,000 after acquiring an additional 200 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of SLB by 9.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company’s stock valued at $129,000 after acquiring an additional 214 shares in the last quarter. Ballentine Partners LLC raised its position in shares of SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after purchasing an additional 218 shares during the period. Davis Capital Management raised its position in shares of SLB by 1.0% during the first quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company’s stock worth $1,129,000 after purchasing an additional 220 shares during the period. Finally, Bruce G. Allen Investments LLC lifted its holdings in shares of SLB by 37.0% in the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 227 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, the director directly 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% 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.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SLB. JPMorgan Chase & Co. lifted their price target on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. UBS Group upped their price objective on shares of SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. The Goldman Sachs Group raised their price objective on shares of SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Jefferies Financial Group reiterated a “buy” rating and set a $65.00 price objective on shares of SLB in a report on Sunday, April 26th. Finally, Evercore reissued an “outperform” rating and set a $64.00 target price on shares of SLB in a research report on Monday, April 27th. Three investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.83.

SLB Stock Down 0.3%

Shares of NYSE:SLB opened at $47.95 on Tuesday. The stock has a market cap of $71.69 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.93 and a beta of 0.70. 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 12-month low of $31.64 and a 12-month high of $58.82. The business’s 50 day moving average is $54.60 and its 200 day moving average is $49.19.

SLB (NYSE:SLB) last announced its quarterly earnings results 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 return on equity of 15.54% and a net margin of 9.26%.SLB’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. On average, sell-side 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 paid a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. SLB’s dividend payout ratio is presently 51.53%.

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.