Hudson Bay Capital Management LP Buys 180,038 Shares of SLB Limited $SLB

Hudson Bay Capital Management LP raised its stake in shares of SLB Limited (NYSE:SLB) by 108.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 346,555 shares of the oil and gas company’s stock after purchasing an additional 180,038 shares during the quarter. Hudson Bay Capital Management LP’s holdings in SLB were worth $11,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SLB. Vanguard Group Inc. increased its stake in SLB by 14.2% in the second quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company’s stock valued at $5,080,734,000 after acquiring an additional 18,672,021 shares during the last quarter. Franklin Resources Inc. increased its position in shares of SLB by 30.4% during the 2nd quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock valued at $683,901,000 after purchasing an additional 4,719,852 shares during the last quarter. Norges Bank purchased a new position in shares of SLB during the 2nd quarter valued at about $618,697,000. Northern Trust Corp lifted its position in SLB by 4.4% in the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock worth $602,860,000 after buying an additional 604,832 shares during the last quarter. Finally, Amundi boosted its stake in SLB by 29.9% in the second quarter. Amundi now owns 11,415,740 shares of the oil and gas company’s stock worth $409,939,000 after buying an additional 2,624,679 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Transactions at SLB

In other news, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the sale, the executive vice president owned 159,371 shares of the company’s stock, valued at approximately $6,006,692.99. The trade was a 27.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter John Coleman sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the sale, the director owned 18,671 shares of the company’s stock, valued at $668,795.22. This trade represents a 22.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 103,947 shares of company stock valued at $3,871,337. Company insiders own 0.22% of the company’s stock.

SLB Trading Down 2.2%

NYSE SLB opened at $39.44 on Monday. The stock has a market cap of $58.92 billion, a P/E ratio of 15.23 and a beta of 0.73. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.66. The stock has a 50 day simple moving average of $35.87 and a two-hundred day simple moving average of $35.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39.

SLB (NYSE:SLB) last announced its earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter in the prior year, the company earned $0.89 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts forecast that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is currently 44.02%.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of recent research reports. Redburn Partners set a $48.00 price target on shares of SLB in a research report on Monday, November 3rd. Piper Sandler set a $42.00 target price on shares of SLB and gave the stock an “overweight” rating in a research report on Monday, October 20th. Cowen restated a “buy” rating and set a $57.00 price target on shares of SLB in a research report on Thursday. Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Finally, Barclays raised their target price on shares of SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.32.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.