Aware Super Pty Ltd as trustee of Aware Super Invests $5.18 Million in SLB Limited $SLB

Aware Super Pty Ltd as trustee of Aware Super bought a new stake in SLB Limited (NYSE:SLB) during the 1st quarter, HoldingsChannel reports. The fund bought 100,735 shares of the oil and gas company’s stock, valued at approximately $5,177,000.

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

Insider Activity at SLB

In related 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 owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. The trade was a 10.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the 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 completion of the transaction, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.16% of the company’s stock.

SLB Price Performance

Shares of NYSE:SLB opened at $47.01 on Friday. The firm has a market cap of $70.29 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 1.89 and a beta of 0.72. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $51.90 and a 200 day simple moving average of $50.22.

SLB (NYSE:SLB) last issued 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 the consensus estimate of $8.76 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that SLB Limited will post 2.53 earnings per share for the current fiscal year.

SLB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd were issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Sanford C. Bernstein lifted their target price on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Raymond James Financial cut their price target on shares of SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Royal Bank Of Canada restated an “outperform” rating and set a $61.00 price objective on shares of SLB in a research report on Tuesday, June 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $65.00 price objective on shares of SLB in a research note on Sunday, April 26th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $54.00 target price on shares of SLB in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.30.

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.