Fjarde AP Fonden Fourth Swedish National Pension Fund Buys Shares of 163,200 SLB Limited $SLB

Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new position in SLB Limited (NYSE:SLB) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 163,200 shares of the oil and gas company’s stock, valued at approximately $8,387,000.

Other institutional investors have also modified their holdings of the company. MV Capital Management Inc. purchased a new stake in shares of SLB in the fourth quarter valued at about $28,000. Sound Income Strategies LLC increased its position in SLB by 71.1% during the first quarter. Sound Income Strategies LLC now owns 780 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 324 shares during the last quarter. Steph & Co. raised its stake in SLB by 97.5% during 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 period. Strategic Wealth Advisors LLC purchased a new position in SLB during the fourth quarter worth about $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in SLB in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s 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 sale, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 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 $921,056.49. This trade represents a 10.55% 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 insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SLB. Wall Street Zen cut shares of SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. BMO Capital Markets lifted 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. Weiss Ratings cut SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Evercore reiterated an “outperform” rating and issued a $64.00 price objective on shares of SLB in a research report on Monday, April 27th. Finally, Stifel Nicolaus raised their target price on SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, SLB has an average rating of “Moderate Buy” and a consensus target price of $60.17.

SLB Trading Down 0.1%

Shares of SLB stock opened at $45.09 on Friday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The firm has a market cap of $67.42 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 1.82 and a beta of 0.72. The company has a 50-day moving average of $53.51 and a two-hundred day moving average of $49.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the firm earned $0.72 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, analysts predict that SLB Limited will post 2.6 EPS for the current year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is 51.53%.

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.