Alberta Investment Management Corp Makes New Investment in SLB Limited $SLB

Alberta Investment Management Corp acquired a new stake in SLB Limited (NYSE:SLB) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 97,000 shares of the oil and gas company’s stock, valued at approximately $3,334,000.

Other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC lifted its position in 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 buying an additional 40,415 shares in the last quarter. Americana Partners LLC increased its position in shares of SLB by 10.1% in the third quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock valued at $8,526,000 after acquiring an additional 22,706 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in SLB by 13.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock worth $7,220,000 after acquiring an additional 25,417 shares in the last quarter. Nordea Investment Management AB boosted its position in SLB by 4.9% during the third quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock valued at $72,354,000 after purchasing an additional 100,918 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG grew its stake in SLB by 1,937.4% in the third quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock valued at $34,265,000 after purchasing an additional 948,015 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of several recent analyst reports. UBS Group reissued a “buy” rating on shares of SLB in a report on Tuesday, January 27th. Morgan Stanley reiterated an “overweight” rating and issued a $50.00 price target on shares of SLB in a research note on Wednesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Rothschild & Co Redburn set a $48.00 target price on shares of SLB in a research note on Monday, November 3rd. Finally, TD Cowen lifted their price target on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.38.

SLB Price Performance

NYSE SLB opened at $51.54 on Friday. The company has a market cap of $77.07 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 3.51 and a beta of 0.73. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $45.15 and its two-hundred day simple moving average is $38.68. SLB Limited has a 52 week low of $31.11 and a 52 week high of $52.40.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The company had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same period in the prior year, the company posted $0.92 EPS. SLB’s revenue was up 5.0% compared to the same quarter last year. Research analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. This is a boost from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is presently 49.79%.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.29, for a total transaction of $201,160.00. Following the sale, the director owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. This represents a 17.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dianne B. Ralston sold 18,617 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.50, for a total transaction of $921,541.50. Following the completion of the transaction, the insider directly owned 224,097 shares of the company’s stock, valued at approximately $11,092,801.50. The trade was a 7.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 162,402 shares of company stock valued at $7,993,676. 0.22% of the stock is currently owned by insiders.

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.