Oregon Public Employees Retirement Fund Buys 52,977 Shares of SLB Limited $SLB

Oregon Public Employees Retirement Fund raised its stake in SLB Limited (NYSE:SLB) by 45.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 170,489 shares of the oil and gas company’s stock after acquiring an additional 52,977 shares during the period. Oregon Public Employees Retirement Fund’s holdings in SLB were worth $5,860,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Synergy Asset Management LLC lifted its stake in shares of SLB by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock worth $2,732,000 after acquiring an additional 40,415 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in SLB by 1,937.4% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock worth $34,265,000 after acquiring an additional 948,015 shares in the last quarter. Allen Wealth Management LLC purchased a new position in SLB during the third quarter valued at approximately $1,455,000. Assetmark Inc. increased its holdings in shares of SLB by 19.5% in the 2nd quarter. Assetmark Inc. now owns 56,561 shares of the oil and gas company’s stock valued at $1,912,000 after acquiring an additional 9,210 shares during the period. Finally, Shell Asset Management Co. grew its stake in SLB by 48.1% in the second quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company’s stock valued at $2,121,000 after purchasing an additional 20,387 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SLB

In related news, Director Peter John Coleman sold 5,500 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the transaction, the director owned 18,671 shares of the company’s stock, valued at $668,795.22. This trade represents a 22.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephane Biguet sold 38,447 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the completion of the sale, the chief financial officer directly owned 175,690 shares in the company, valued at approximately $6,456,607.50. The trade was a 17.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 103,947 shares of company stock worth $3,871,337. Company insiders own 0.22% of the company’s stock.

SLB Stock Performance

Shares of SLB opened at $45.20 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The stock has a 50-day moving average of $38.05 and a two-hundred day moving average of $35.85. The stock has a market cap of $67.52 billion, a P/E ratio of 17.45 and a beta of 0.72. SLB Limited has a one year low of $31.11 and a one year high of $45.24.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. During the same period last year, the business posted $0.89 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts predict that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 2.5%. SLB’s dividend payout ratio (DPR) is currently 44.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Rothschild Redb raised SLB to a “strong-buy” rating in a research report on Monday, November 3rd. Piper Sandler boosted their target price on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Rothschild & Co Redburn began coverage on SLB in a research report on Monday, November 3rd. They set a “buy” rating and a $48.00 target price on the stock. Barclays decreased their price target on SLB from $48.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Finally, Susquehanna boosted their price target on SLB from $42.00 to $52.00 and gave the stock a “positive” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, SLB has an average rating of “Moderate Buy” and an average price target of $53.42.

About SLB

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.