Swedbank AB Acquires 121,174 Shares of SLB Limited $SLB

Swedbank AB grew its holdings in SLB Limited (NYSE:SLB) by 24.4% during the 4th quarter, Holdings Channel reports. The firm owned 617,630 shares of the oil and gas company’s stock after purchasing an additional 121,174 shares during the period. Swedbank AB’s holdings in SLB were worth $23,705,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SLB. Vanguard Group Inc. raised its position in shares of SLB by 23.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock valued at $6,371,335,000 after acquiring an additional 35,057,313 shares during the period. State Street Corp raised 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 valued at $2,898,037,000 after acquiring an additional 5,466,786 shares during the period. Greenhaven Associates Inc. acquired a new stake in shares of SLB in the 4th quarter valued at approximately $178,883,000. Caisse de depot et placement du Quebec raised its position in shares of SLB by 10,422.1% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 3,165,581 shares of the oil and gas company’s stock valued at $108,801,000 after acquiring an additional 3,135,496 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of SLB by 25.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock valued at $528,217,000 after acquiring an additional 3,094,764 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Performance

Shares of SLB stock opened at $57.27 on Tuesday. 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 company has a market capitalization of $85.63 billion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 2.32 and a beta of 0.72. The company’s 50 day moving average price is $52.66 and its two-hundred day moving average price is $46.65. SLB Limited has a 52 week low of $31.64 and a 52 week high of $57.88.

SLB (NYSE:SLB) last announced its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping 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 firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period last year, the company posted $0.72 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts expect that SLB Limited will post 2.61 earnings per share for the current fiscal year.

SLB Announces Dividend

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 issued a $0.295 dividend. The ex-dividend date 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 (DPR) is 51.53%.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred 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 in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction that occurred on Friday, May 1st. The shares were 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. This trade represents a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America increased their price target on shares of SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Freedom Capital downgraded shares of SLB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. BMO Capital Markets increased their price target 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. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price target on shares of SLB in a research report on Sunday, April 26th. Finally, Piper Sandler increased their price target on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.