SLB Limited $SLB Shares Acquired by Capital International Investors

Capital International Investors lifted its position in SLB Limited (NYSE:SLB) by 86.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,627,072 shares of the oil and gas company’s stock after purchasing an additional 5,404,948 shares during the quarter. Capital International Investors’ holdings in SLB were worth $446,247,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Strategic Wealth Advisors LLC purchased a new position in shares of SLB in the fourth quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of SLB in the fourth quarter worth about $31,000. 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 worth $31,000 after purchasing an additional 394 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new position in shares of SLB in the fourth quarter worth about $31,000. Finally, Bruce G. Allen Investments LLC raised its stake in shares of SLB by 37.0% in the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 227 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Stock Down 0.2%

Shares of SLB opened at $54.79 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The stock has a market capitalization of $81.91 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.22 and a beta of 0.70. The stock has a 50 day moving average price of $54.22 and a 200 day moving average price of $47.89.

SLB (NYSE:SLB) last issued its quarterly 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 return on equity of 15.54% and a net margin of 9.26%.The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. Equities research analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is presently 51.53%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler raised their price objective on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Susquehanna raised their price objective on SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a research note on Monday, April 27th. Wall Street Zen cut SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. JPMorgan Chase & Co. raised their price objective on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, TD Cowen raised their price objective on SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Three 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.67.

Insider Buying and Selling at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction 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 completion of the sale, the director directly owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 of the company’s stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by corporate insiders.

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.