SLB Limited $SLB Shares Sold by Socorro Asset Management LP

Socorro Asset Management LP lowered its position in SLB Limited (NYSE:SLB) by 16.3% in the first quarter, HoldingsChannel reports. The firm owned 146,717 shares of the oil and gas company’s stock after selling 28,559 shares during the period. SLB makes up about 3.4% of Socorro Asset Management LP’s portfolio, making the stock its 12th biggest holding. Socorro Asset Management LP’s holdings in SLB were worth $7,540,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fearnley Asset Management AS acquired a new stake in SLB during the fourth quarter worth $8,574,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of SLB in the 1st quarter valued at $47,528,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of SLB by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock valued at $126,303,000 after purchasing an additional 128,660 shares during the last quarter. Cibc World Market Inc. grew its holdings in shares of SLB by 48.7% during the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock worth $52,468,000 after purchasing an additional 447,667 shares during the period. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of SLB by 65.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock worth $7,898,000 after purchasing an additional 81,045 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Down 1.6%

Shares of NYSE:SLB opened at $51.59 on Tuesday. The firm has a market capitalization of $77.13 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 2.12 and a beta of 0.72. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05. The firm’s 50-day moving average is $51.05 and its two-hundred day moving average is $50.66.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, July 24th. The oil and gas company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The business had revenue of $8.97 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Analysts predict that SLB Limited will post 2.52 EPS for the current year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio (DPR) is presently 57.00%.

Insiders Place Their Bets

In other news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction dated 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 transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value 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 represents a 52.96% 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.

Analyst Ratings Changes

SLB has been the topic of several research analyst reports. Sanford C. Bernstein boosted their price objective on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a report on Monday, May 11th. BMO Capital Markets increased their target price on shares of SLB from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday. Wolfe Research initiated coverage on shares of SLB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price target on the stock. Jefferies Financial Group restated a “buy” rating and issued a $66.00 price objective on shares of SLB in a report on Sunday. Finally, Citigroup lowered their price objective on shares of SLB from $68.00 to $63.00 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 issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.35.

Key SLB News

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Analysts raised targets: BMO Capital Markets increased its target from $59 to $63 and maintained an “outperform” rating, while Morgan Stanley raised its target from $54 to $55 and assigned an “overweight” rating. Analyst price-target updates
• Positive Sentiment: Q2 exceeded expectations: SLB reported adjusted earnings of $0.55 per share versus the $0.51 consensus estimate and revenue of $8.97 billion versus expectations of $8.67 billion. Sequentially, revenue rose 3% and adjusted EBITDA increased 7%, with margin expansion. SLB analysts increase forecasts
• Positive Sentiment: Longer-term growth catalysts are strengthening: RBC Capital Markets expects SLB’s growth drivers to converge in 2027 and beyond, led by a multiyear offshore cycle. Deepwater activity, digital demand, energy-security spending and a gradual Middle East recovery could support revenue, margins and cash flow. SLB growth drivers
• Positive Sentiment: Management’s outlook remains encouraging: Analysts highlighted guidance for fourth-quarter revenue above $10 billion and an adjusted EBITDA margin near 24%, supporting the view that a stronger 2027 may not yet be fully reflected in the valuation. SLB stronger 2027 outlook
• Neutral Sentiment: Investors are assessing international revenue trends, particularly the pace and durability of growth outside North America, for implications for Wall Street estimates. SLB international revenue trends
• Negative Sentiment: Near-term concerns remain: Second-quarter earnings declined from $0.74 per share a year earlier, and Middle East disruptions continue to weigh on operations. The anticipated recovery is gradual, leaving investors focused on execution and the timing of offshore and regional demand improvements. SLB Q2 earnings call

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.