SLB Limited $SLB Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lessened its position in shares of SLB Limited (NYSE:SLB) by 40.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,135 shares of the oil and gas company’s stock after selling 95,400 shares during the quarter. Mediolanum International Funds Ltd’s holdings in SLB were worth $7,324,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of SLB. Norges Bank purchased a new stake in SLB in the fourth quarter valued at approximately $809,557,000. Bank of New York Mellon Corp raised its position in SLB by 56.8% during the 1st quarter. Bank of New York Mellon Corp now owns 24,615,243 shares of the oil and gas company’s stock worth $1,264,977,000 after buying an additional 8,918,412 shares during the last quarter. Wellington Management Group LLP raised its position in SLB by 50.6% during the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock worth $638,473,000 after buying an additional 5,589,585 shares during the last quarter. State Street Corp lifted its stake in SLB by 7.0% during 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. Finally, Capital International Investors lifted its stake in SLB by 86.9% during the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock valued at $446,247,000 after acquiring an additional 5,404,948 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s 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 completion of the sale, the director directly owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’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 transaction, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by insiders.

SLB Trading Down 1.2%

Shares of SLB stock opened at $46.41 on Tuesday. The firm has a 50-day simple moving average of $51.72 and a two-hundred day simple moving average of $50.37. The company has a market cap of $69.38 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 1.89 and a beta of 0.72. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. 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 (NYSE:SLB) last posted its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS 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 firm 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 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that SLB Limited will post 2.53 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd were issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is presently 51.53%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SLB shares. Wolfe Research assumed coverage on shares of SLB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price objective on the stock. Piper Sandler boosted their target price 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. Jefferies Financial Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of SLB in a report on Sunday, April 26th. Weiss Ratings downgraded SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, Barclays reduced their price objective on SLB from $66.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.30.

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.