SIR Capital Management L.P. Acquires New Holdings in SLB Limited $SLB

SIR Capital Management L.P. acquired a new stake in SLB Limited (NYSE:SLB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 269,800 shares of the oil and gas company’s stock, valued at approximately $10,355,000.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on SLB shares. Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 target price on shares of SLB in a research note on Monday, April 27th. Citigroup raised their target price 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. Jefferies Financial Group reissued a “buy” rating and set a $65.00 target price on shares of SLB in a research note on Sunday, April 26th. Stifel Nicolaus raised their target price 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, Piper Sandler raised their target price on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.67.

SLB Stock Performance

Shares of SLB opened at $56.03 on Friday. The firm’s 50 day moving average is $54.64 and its 200-day moving average is $48.51. The stock has a market capitalization of $83.76 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.27 and a beta of 0.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. SLB Limited has a 12-month low of $31.64 and a 12-month 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. Equities research analysts anticipate that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. SLB’s payout ratio is currently 51.53%.

Insider Activity at SLB

In other news, 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 value of $108,660.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company’s stock.

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.