SEB Asset Management AB Acquires New Position in SLB Limited $SLB

SEB Asset Management AB acquired a new stake in SLB Limited (NYSE:SLB) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 69,476 shares of the oil and gas company’s stock, valued at approximately $3,570,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SLB. Evergreen Advisors LLC acquired a new stake in shares of SLB during the first quarter worth about $26,000. MV Capital Management Inc. purchased a new stake in shares of SLB during the 4th quarter worth approximately $28,000. Strategic Wealth Advisors LLC acquired a new stake in SLB in the fourth quarter valued at $30,000. Costello Asset Management INC boosted its position in shares of SLB by 93.3% in the 1st quarter. Costello Asset Management INC now owns 580 shares of the oil and gas company’s stock worth $30,000 after buying an additional 280 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of SLB in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm’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 approximately $921,056.49. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SLB. Barclays lowered their target price on SLB from $66.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Piper Sandler lifted their price objective on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Wolfe Research assumed coverage on shares of SLB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 target price on the stock. JPMorgan Chase & Co. upped their target price on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Stifel Nicolaus raised their target price on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $60.30.

SLB Stock Performance

SLB stock opened at $47.72 on Thursday. The stock’s 50-day moving average is $51.39 and its 200-day moving average is $50.49. The company has a market cap of $71.34 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 1.88 and a beta of 0.72. 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 Limited has a 12 month low of $31.64 and a 12 month high of $58.82.

SLB (NYSE:SLB) last issued its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. Equities analysts anticipate that SLB Limited will post 2.52 earnings per share for the current year.

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.