Black Cypress Capital Management LLC Increases Stock Holdings in SLB Limited $SLB

Black Cypress Capital Management LLC boosted its holdings in SLB Limited (NYSE:SLB) by 19.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,227 shares of the oil and gas company’s stock after buying an additional 38,429 shares during the period. SLB makes up 6.5% of Black Cypress Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. Black Cypress Capital Management LLC’s holdings in SLB were worth $7,984,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Nuveen LLC bought a new stake in shares of SLB in the 1st quarter worth approximately $169,232,000. Assetmark Inc. grew its holdings in shares of SLB by 19.5% in the second quarter. Assetmark Inc. now owns 56,561 shares of the oil and gas company’s stock worth $1,912,000 after acquiring an additional 9,210 shares during the period. Shell Asset Management Co. boosted its holdings in shares of SLB by 48.1% in the second quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company’s stock worth $2,121,000 after buying an additional 20,387 shares during the last quarter. Godsey & Gibb Inc. raised its holdings in SLB by 9.6% in the 2nd quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company’s stock worth $16,667,000 after purchasing an additional 43,135 shares during the period. Finally, Emerald Advisors LLC bought a new position in shares of SLB during the 2nd quarter valued at approximately $352,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

NYSE SLB opened at $36.09 on Friday. The stock has a 50-day moving average of $35.13 and a 200 day moving average of $34.87. SLB Limited has a twelve month low of $31.11 and a twelve month high of $44.66. The stock has a market capitalization of $53.91 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 10.19 and a beta of 0.97. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The company had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. Sell-side analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. SLB’s payout ratio is presently 44.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Melius Research assumed coverage on shares of SLB in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective for the company. Piper Sandler set a $42.00 price target on shares of SLB and gave the stock an “overweight” rating in a report on Monday, October 20th. Melius initiated coverage on SLB in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Finally, Redburn Partners set a $48.00 target price on SLB in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.28.

Insider Activity at SLB

In related news, CFO Stephane Biguet sold 38,447 shares of SLB stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the transaction, the chief financial officer owned 175,690 shares in the company, valued at approximately $6,456,607.50. This trade represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Abdellah Merad sold 60,000 shares of the business’s 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 transaction, the executive vice president directly owned 159,371 shares in the company, valued at approximately $6,006,692.99. The trade was a 27.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 138,174 shares of company stock valued at $5,107,677. 0.22% of the stock is currently owned by insiders.

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.