29,164 Shares in SLB Limited $SLB Purchased by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC bought a new stake in shares of SLB Limited (NYSE:SLB) in the first quarter, Holdings Channel.com reports. The firm bought 29,164 shares of the oil and gas company’s stock, valued at approximately $1,499,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Fearnley Asset Management AS bought a new position in SLB in the 4th quarter valued at about $8,574,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in SLB by 4.3% during 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 buying an additional 128,660 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in shares of SLB during the 1st quarter worth about $47,528,000. Cibc World Market Inc. lifted its stake in shares of SLB by 48.7% in 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 acquiring an additional 447,667 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of SLB by 65.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock worth $7,898,000 after acquiring an additional 81,045 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction 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 completion of the transaction, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company’s stock.

Key Headlines Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB won a seven-year contract from Kuwait Oil Company under the Ahmadi Innovation Valley initiative, supporting applied research, technology deployment, and digital innovation. This could strengthen long-term revenue visibility and highlights demand for SLB’s energy technology offerings. SLB Awarded Seven-Year Contract Under Kuwait Oil Company’s Ahmadi Innovation Valley Initiative
• Positive Sentiment: SLB is also expanding its footprint in Louisiana, with Industrial Realty Group saying the company will occupy more space at its Shreveport campus. While this is not as material as the Kuwait deal, it suggests continued operational expansion and ongoing investment in capacity. IRG Expands Long-Term Lease with SLB in Shreveport, LA, 3.5 Million Sq. Ft. Former GM Facility Now Fully Leased
• Positive Sentiment: Several commentary pieces argue that SLB may be oversold after a sharp recent pullback, and that improving analyst earnings estimates could support a rebound. This may help explain why some investors are starting to view the weakness as a potential buying opportunity. Down 15.3% in 4 Weeks, Here’s Why You Should You Buy the Dip in SLB (SLB)
• Neutral Sentiment: Market-watchers also compared SLB with Enpro (NPO) as a value stock. This is more of a valuation discussion than a direct business catalyst, so it is likely limited in near-term stock impact. SLB vs. NPO: Which Stock Is the Better Value Option?
• Negative Sentiment: Despite the positive contract news, SLB has been trading lower over the past several weeks, reflecting recent selling pressure and concern about near-term momentum. That weakness may be capping enthusiasm even as investors wait to see whether new contract wins translate into stronger earnings. SLB (SLB) Stock Sinks As Market Gains: Here’s Why

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SLB shares. JPMorgan Chase & Co. raised 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. Wall Street Zen downgraded SLB from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Evercore reaffirmed an “outperform” rating and set a $64.00 price target on shares of SLB in a research note on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and set a $65.00 price target on shares of SLB in a research report on Sunday, April 26th. Finally, Weiss Ratings lowered SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.83.

SLB Stock Up 0.1%

NYSE SLB opened at $46.44 on Wednesday. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a market capitalization of $69.44 billion, a P/E ratio of 20.28, a PEG ratio of 1.86 and a beta of 0.70. The company’s 50 day simple moving average is $53.99 and its 200 day simple moving average is $49.56. 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 (NYSE:SLB) last issued its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $8.72 billion during 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 firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. Equities research analysts expect that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

The business 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 dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. SLB’s dividend payout ratio (DPR) is currently 51.53%.

SLB 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.