Swiss Life Asset Management Ltd Has $10.39 Million Holdings in SLB Limited $SLB

Swiss Life Asset Management Ltd reduced its holdings in SLB Limited (NYSE:SLB) by 46.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,088 shares of the oil and gas company’s stock after selling 232,508 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in SLB were worth $10,390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of SLB by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock worth $7,156,177,000 after acquiring an additional 1,080,999 shares in the last quarter. State Street Corp boosted its holdings 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 acquiring an additional 5,466,786 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in SLB by 25.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock worth $528,217,000 after buying an additional 3,094,764 shares in the last quarter. Northern Trust Corp lifted its holdings in SLB by 10.7% during the 3rd quarter. Northern Trust Corp now owns 15,359,990 shares of the oil and gas company’s stock worth $527,923,000 after buying an additional 1,490,859 shares in the last quarter. Finally, Amundi lifted its holdings in SLB by 24.4% during the 3rd quarter. Amundi now owns 14,198,874 shares of the oil and gas company’s stock worth $491,139,000 after buying an additional 2,783,134 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Performance

SLB stock opened at $55.67 on Wednesday. The business’s fifty day moving average is $51.06 and its 200-day moving average is $45.36. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a market cap of $83.23 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 3.87 and a beta of 0.72. SLB Limited has a twelve month low of $31.64 and a twelve month high of $57.20.

SLB (NYSE:SLB) last posted 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 company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 EPS. Equities research analysts forecast that SLB Limited will post 2.61 EPS for the current year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. SLB’s dividend payout ratio is 51.53%.

Insiders Place Their Bets

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the company’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 completion of the sale, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 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. This represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SLB shares. Stifel Nicolaus upped their price objective on SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, April 27th. UBS Group upped their price objective on SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. TD Cowen upped their price objective on SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Piper Sandler upped their price objective on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, Argus raised SLB to a “strong-buy” rating in a report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.74.

SLB Company 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.