Oak Associates Ltd. OH Takes Position in SLB Limited $SLB

Oak Associates Ltd. OH acquired a new stake in SLB Limited (NYSE:SLB) during the first quarter, Holdings Channel.com reports. The firm acquired 116,194 shares of the oil and gas company’s stock, valued at approximately $5,971,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evergreen Advisors LLC bought a new position in shares of SLB in the first quarter valued at approximately $26,000. MV Capital Management Inc. acquired a new stake in shares of SLB in the fourth quarter worth $28,000. Strategic Wealth Advisors LLC bought a new stake in shares of SLB during the 4th quarter worth $30,000. Costello Asset Management INC boosted its holdings in shares of SLB by 93.3% during the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after buying an additional 280 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in SLB in the 4th quarter valued at $31,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the business’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 transaction, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. The trade was 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 the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the sale, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company’s stock.

SLB Stock Performance

NYSE SLB opened at $47.25 on Friday. 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 firm has a market capitalization of $70.65 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 1.93 and a beta of 0.72. The company’s fifty day moving average is $51.22 and its two-hundred day moving average is $50.54. 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 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 business had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that SLB Limited will post 2.52 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $54.00 target price on shares of SLB in a report on Wednesday, July 15th. Piper Sandler upped their price target on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Evercore reaffirmed an “outperform” rating and issued a $64.00 price target on shares of SLB in a research report on Monday, April 27th. Wolfe Research assumed coverage on SLB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price objective on the stock. Finally, TD Cowen cut their price objective on SLB from $66.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, SLB presently has an average rating of “Moderate Buy” and a consensus target price of $60.30.

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.