SEB Asset Management AB Takes Position in SLB Limited $SLB

SEB Asset Management AB acquired a new position in SLB Limited (NYSE:SLB) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 69,476 shares of the oil and gas company’s stock, valued at approximately $3,570,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after acquiring an additional 1,166 shares during the last quarter. Bison Wealth LLC acquired a new stake in SLB during the 4th quarter worth about $238,000. Marshall Wace LLP acquired a new stake in SLB during the 2nd quarter worth about $8,628,000. Nebula Research & Development LLC raised its stake in shares of SLB by 76.0% during the 2nd quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company’s stock valued at $824,000 after buying an additional 10,522 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its stake in shares of SLB by 7.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company’s stock valued at $373,000 after buying an additional 799 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Sanford C. Bernstein raised their target price on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Stifel Nicolaus boosted their price objective on SLB from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Evercore reaffirmed an “outperform” rating and set a $64.00 target price on shares of SLB in a research note on Monday, April 27th. Royal Bank Of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of SLB in a research report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Two 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 issued a Sell rating to the company. According to MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.30.

SLB Stock Performance

NYSE:SLB opened at $47.72 on Thursday. The company has a market cap of $71.34 billion, a P/E ratio of 20.84, a P/E/G ratio of 1.88 and a beta of 0.72. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The company’s 50-day moving average price is $51.39 and its 200-day moving average price is $50.49. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same quarter in the prior year, the company earned $0.72 EPS. SLB’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that SLB Limited will post 2.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was 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 of the company’s stock, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. The trade was a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by corporate insiders.

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.