Jennison Associates LLC Purchases 151,404 Shares of SLB Limited $SLB

Jennison Associates LLC lifted its position in SLB Limited (NYSE:SLB) by 68.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 374,093 shares of the oil and gas company’s stock after buying an additional 151,404 shares during the period. Jennison Associates LLC’s holdings in SLB were worth $19,225,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in SLB in the fourth quarter worth $809,557,000. Bank of New York Mellon Corp lifted its holdings in shares of SLB by 56.8% during the 1st quarter. Bank of New York Mellon Corp now owns 24,615,243 shares of the oil and gas company’s stock valued at $1,264,977,000 after purchasing an additional 8,918,412 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of SLB by 50.6% in the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock worth $638,473,000 after purchasing an additional 5,589,585 shares in the last quarter. State Street Corp boosted its position in shares of SLB by 7.0% in the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock worth $2,898,037,000 after purchasing an additional 5,466,786 shares in the last quarter. Finally, Capital International Investors grew its stake in SLB by 86.9% during the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock worth $446,247,000 after buying an additional 5,404,948 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of several recent analyst reports. Weiss Ratings lowered SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Raymond James Financial lowered their price target on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, July 10th. TD Cowen cut their price objective on shares of SLB from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. BMO Capital Markets increased their price objective on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 target price on shares of SLB in a research note on Sunday, April 26th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.30.

Insider Activity at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s 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 sale, the director directly owned 16,953 shares of the company’s stock, valued at $921,056.49. This represents a 10.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the 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 owned 47,421 shares in the company, valued at $2,664,111.78. The trade was a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is currently owned by corporate insiders.

SLB Stock Performance

Shares of SLB opened at $46.62 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The stock has a 50-day moving average of $51.54 and a two-hundred day moving average of $50.42. The stock has a market cap of $69.70 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.87 and a beta of 0.72. SLB Limited has a one year low of $31.64 and a one year high of $58.82.

SLB (NYSE:SLB) last announced its quarterly earnings data 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. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts predict that SLB Limited will post 2.53 EPS for the current year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd were issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, June 3rd. SLB’s dividend payout ratio is 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.