SLB Limited $SLB Shares Bought by Swedbank AB

Swedbank AB raised its stake in SLB Limited (NYSE:SLB) by 24.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 617,630 shares of the oil and gas company’s stock after acquiring an additional 121,174 shares during the quarter. Swedbank AB’s holdings in SLB were worth $23,705,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SLB. Root Financial Partners LLC acquired a new position in shares of SLB in the third quarter worth $29,000. Strengthening Families & Communities LLC acquired a new position in shares of SLB in the third quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of SLB in the fourth quarter worth $31,000. Steph & Co. raised its holdings in shares of SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 394 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in shares of SLB in the fourth quarter worth $34,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was 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 approximately $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by insiders.

SLB Price Performance

SLB stock opened at $53.21 on Friday. The stock has a 50-day moving average price of $50.88 and a two-hundred day moving average price of $44.92. SLB Limited has a 12-month low of $31.64 and a 12-month high of $57.20. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The company has a market cap of $79.55 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 3.73 and a beta of 0.72.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts predict that SLB Limited will post 2.61 EPS for the current year.

SLB Dividend Announcement

The company also recently declared 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. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s payout ratio is 51.53%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of SLB in a report on Monday, April 27th. Morgan Stanley set a $57.00 target price on SLB in a research note on Monday, April 27th. Barclays upped their target price on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Freedom Capital lowered SLB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Finally, Piper Sandler upped their target price on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Three 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 issued a Sell rating to the company. According to data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and an average target price of $58.95.

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.