SLB Limited $SLB Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. reduced its stake in SLB Limited (NYSE:SLB) by 43.6% during the 4th quarter, Holdings Channel reports. The fund owned 40,622 shares of the oil and gas company’s stock after selling 31,430 shares during the quarter. Securian Asset Management Inc.’s holdings in SLB were worth $1,559,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Root Financial Partners LLC acquired a new stake in shares of SLB in the third quarter valued at $29,000. Strategic Wealth Advisors LLC acquired a new stake in shares of SLB in the fourth quarter valued at $30,000. Strengthening Families & Communities LLC acquired a new stake in shares of SLB in the third quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB in the fourth quarter valued at $31,000. Finally, Steph & Co. raised its stake 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 valued at $31,000 after acquiring an additional 394 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLB has been the topic of several analyst reports. TD Cowen increased their price objective on SLB from $55.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of SLB in a research note on Monday, April 27th. Loop Capital set a $48.00 price target on SLB in a research note on Tuesday, January 27th. Piper Sandler raised their price target on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, The Goldman Sachs Group raised their price target on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.74.

Insider Activity

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction dated 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 directly owned 16,953 shares in the company, valued at approximately $921,056.49. The trade was a 10.55% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.16% of the company’s stock.

SLB Stock Up 3.3%

SLB stock opened at $55.00 on Tuesday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $57.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The stock has a market cap of $82.23 billion, a PE ratio of 24.02, a P/E/G ratio of 3.75 and a beta of 0.72. The stock’s fifty day moving average is $50.98 and its two-hundred day moving average is $45.21.

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. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. During the same period last year, the firm earned $0.72 earnings per share. SLB’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that SLB Limited will post 2.61 EPS for the current fiscal year.

SLB Announces Dividend

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

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.