SLB (NYSE:SLB) EVP Abdellah Merad Sells 60,000 Shares of Stock

SLB Limited (NYSE:SLB) EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the sale, the executive vice president directly owned 140,602 shares in the company, valued at $6,987,919.40. This trade represents a 29.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Abdellah Merad also recently made the following trade(s):

• On Tuesday, November 11th, Abdellah Merad sold 60,000 shares of SLB stock. The shares were sold at an average price of $37.69, for a total value of $2,261,400.00.

SLB Stock Performance

Shares of SLB opened at $50.70 on Wednesday. SLB Limited has a 1 year low of $31.11 and a 1 year high of $51.67. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. The stock’s fifty day moving average price is $40.71 and its two-hundred day moving average price is $36.89. The firm has a market cap of $75.81 billion, a PE ratio of 21.39 and a beta of 0.72.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.54 billion. During the same quarter last year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities research analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is currently 48.10%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Synergy Asset Management LLC lifted its position in SLB by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock valued at $2,732,000 after acquiring an additional 40,415 shares in the last quarter. Americana Partners LLC increased its holdings in SLB by 10.1% in the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock worth $8,526,000 after buying an additional 22,706 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in SLB by 13.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock worth $7,220,000 after buying an additional 25,417 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of SLB by 1,937.4% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock valued at $34,265,000 after acquiring an additional 948,015 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of SLB by 4.9% during the 3rd quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock valued at $72,354,000 after acquiring an additional 100,918 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on SLB. JPMorgan Chase & Co. increased their target price on SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday. Redburn Partners set a $48.00 target price on SLB in a research note on Monday, November 3rd. Sanford C. Bernstein lifted their target price on SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a report on Thursday, December 11th. The Goldman Sachs Group reissued a “buy” rating and issued a $49.00 price target on shares of SLB in a report on Wednesday, January 14th. Finally, Rothschild Redb raised shares of SLB to a “strong-buy” rating in a research note on Monday, November 3rd. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, SLB presently has a consensus rating of “Buy” and an average target price of $51.92.

Trending Headlines about SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Multiple brokerages raised ratings/targets and issued bullish notes (BofA raised to $55, BMO to $55, Susquehanna to $58, RBC to $54, JPMorgan to $54; Argus upgraded to “strong-buy”), supporting upside expectations and buy-side demand. Analyst Upgrades Summary
• Neutral Sentiment: Analysts and commentators are re-examining SLB’s role in evolving energy markets and international revenue trends — pieces that provide context on valuation and growth drivers but are not immediate catalysts. Is SLB Pricing Reflect Its Role In Evolving Energy Markets? Interpreting SLB International Revenue Trends
• Negative Sentiment: SLB’s joint venture with Aker Carbon Capture reported a loss on a carbon-capture project, raising near-term execution/asset-quality questions for the CC business. That news could temper enthusiasm for SLB’s energy-transition growth narrative. SLB and Aker CC venture hit by loss on carbon capture project
• Negative Sentiment: Several senior insiders sold material stakes on Jan. 26 (CFO Stéphane Biguet, EVP Abdellah Merad, CAO Howard Guild, director La Chevardière Patrick De, and insider Dianne Ralston). Large insider disposals can be perceived negatively by the market even if they’re routine or for diversification. SEC filings: CFO Read More.; CAO Read More.; EVP Read More.; director Read More.; insider Ralston Read More.

About SLB

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.