222,689 Shares in SLB Limited $SLB Acquired by Jennison Associates LLC

Jennison Associates LLC acquired a new position in shares of SLB Limited (NYSE:SLB) during the 4th quarter, Holdings Channel reports. The fund acquired 222,689 shares of the oil and gas company’s stock, valued at approximately $8,547,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Foster Victor Wealth Advisors LLC boosted its stake in SLB by 3.0% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 8,281 shares of the oil and gas company’s stock worth $318,000 after acquiring an additional 238 shares during the last quarter. apricus wealth LLC boosted its stake in SLB by 0.3% during the 4th quarter. apricus wealth LLC now owns 84,740 shares of the oil and gas company’s stock worth $3,252,000 after acquiring an additional 270 shares during the last quarter. Private Trust Co. NA boosted its stake in SLB by 9.2% during the 4th quarter. Private Trust Co. NA now owns 3,277 shares of the oil and gas company’s stock worth $126,000 after acquiring an additional 277 shares during the last quarter. Howard Capital Management Inc. boosted its stake in SLB by 3.2% during the 3rd quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock worth $315,000 after acquiring an additional 288 shares during the last quarter. Finally, Daymark Wealth Partners LLC boosted its stake in SLB by 3.2% during the 4th quarter. Daymark Wealth Partners LLC now owns 9,380 shares of the oil and gas company’s stock worth $360,000 after acquiring an additional 290 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

Shares of SLB opened at $57.00 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. SLB Limited has a twelve month low of $31.64 and a twelve month high of $57.20. The firm’s 50 day moving average price is $50.67 and its two-hundred day moving average price is $44.37. The firm has a market cap of $85.22 billion, a P/E ratio of 24.89, a PEG ratio of 4.02 and a beta of 0.72.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, analysts forecast that SLB Limited will post 2.6 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 given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.

Analyst Ratings Changes

Several research firms recently weighed in on SLB. Morgan Stanley set a $57.00 price objective on shares of SLB in a research note on Monday, April 27th. The Goldman Sachs Group lifted their price target on shares of SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Loop Capital set a $48.00 price target on shares of SLB in a research note on Tuesday, January 27th. Wall Street Zen lowered shares of SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Freedom Capital lowered shares of SLB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, SLB has an average rating of “Moderate Buy” and a consensus price target of $58.95.

Insider Activity at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction on 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 owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

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.