CenterBook Partners LP Makes New Investment in SLB Limited $SLB

CenterBook Partners LP bought a new position in shares of SLB Limited (NYSE:SLB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 36,875 shares of the oil and gas company’s stock, valued at approximately $1,415,000.

Several other large investors also recently bought and sold shares of SLB. Vanguard Group Inc. grew its position in SLB by 23.3% during the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock worth $6,371,335,000 after purchasing an additional 35,057,313 shares during the last quarter. Norges Bank purchased a new stake in SLB during the 4th quarter worth approximately $809,557,000. Bank of New York Mellon Corp grew its position in SLB by 64.4% during the 4th quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company’s stock worth $602,444,000 after purchasing an additional 6,149,511 shares during the last quarter. State Street Corp grew its position in SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after purchasing an additional 5,466,786 shares during the last quarter. Finally, Capital International Investors grew its position in SLB by 86.9% during the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock worth $446,247,000 after purchasing an additional 5,404,948 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on SLB shares. TD Cowen lifted their price objective on shares of SLB from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. lifted their price objective on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. The Goldman Sachs Group lifted 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. Stifel Nicolaus lifted their price objective on shares of SLB from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Citigroup lifted their price objective 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 analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

SLB Stock Performance

SLB opened at $55.56 on Thursday. 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 fifty day moving average price of $54.43 and a 200 day moving average price of $48.32. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. The stock has a market cap of $83.06 billion, a P/E ratio of 24.26, a P/E/G ratio of 2.26 and a beta of 0.70.

SLB (NYSE:SLB) last posted its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the previous year, the business posted $0.72 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that SLB Limited will post 2.62 earnings per share for the current year.

SLB Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. SLB’s dividend payout ratio is currently 51.53%.

Insider Transactions at SLB

In other 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 completion of the sale, the director owned 16,953 shares of the company’s stock, valued at $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 is available at this link. 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 transaction of $2,998,832.22. Following the sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by insiders.

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.