Sargent Investment Group LLC Has $2.42 Million Stock Position in SLB Limited $SLB

Sargent Investment Group LLC lowered its holdings in shares of SLB Limited (NYSE:SLB) by 15.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 63,013 shares of the oil and gas company’s stock after selling 11,666 shares during the period. Sargent Investment Group LLC’s holdings in SLB were worth $2,418,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of research firms have commented on SLB. BMO Capital Markets lifted their price objective on shares of SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. The Goldman Sachs Group increased their price objective on shares of 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 restated a “buy” rating and set a $65.00 target price on shares of SLB in a research note on Sunday, April 26th. Piper Sandler lifted their target price on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a report 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 research note on Thursday, April 30th. 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 issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.67.

Insider Activity at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president directly owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $108,660.00. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by company insiders.

SLB Stock Down 0.3%

SLB stock opened at $56.03 on Monday. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The stock has a market capitalization of $83.76 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 2.28 and a beta of 0.70. The business’s fifty day moving average price is $54.64 and its two-hundred day moving average price is $48.60.

SLB (NYSE:SLB) last announced its earnings results 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 previous year, the business posted $0.72 earnings per share. SLB’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that SLB Limited will post 2.62 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is presently 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.