Eurizon Capital SGR S.p.A. Takes $9.12 Million Position in SLB Limited $SLB

Eurizon Capital SGR S.p.A. bought a new stake in shares of SLB Limited (NYSE:SLB) in the fourth quarter, Holdings Channel reports. The institutional investor bought 237,444 shares of the oil and gas company’s stock, valued at approximately $9,116,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in SLB by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock valued at $7,156,177,000 after buying an additional 1,080,999 shares during the period. State Street Corp raised its holdings 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 buying an additional 5,466,786 shares during the period. Geode Capital Management LLC raised its holdings in SLB by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock valued at $1,292,993,000 after buying an additional 510,747 shares during the period. First Eagle Investment Management LLC raised its holdings in SLB by 0.6% during the 4th quarter. First Eagle Investment Management LLC now owns 27,718,458 shares of the oil and gas company’s stock valued at $1,063,834,000 after buying an additional 174,564 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in SLB by 25.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company’s stock valued at $528,217,000 after buying an additional 3,094,764 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler increased their price target on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Stifel Nicolaus increased their price target on SLB from $56.00 to $61.00 and gave the company a “buy” rating in a report on Monday, April 27th. JPMorgan Chase & Co. increased their price target on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Citigroup increased their price target on SLB from $59.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Weiss Ratings lowered SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.74.

SLB Price Performance

Shares of SLB stock opened at $54.44 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The company has a market capitalization of $81.39 billion, a P/E ratio of 23.77, a P/E/G ratio of 2.21 and a beta of 0.70. The company’s 50-day simple moving average is $53.52 and its two-hundred day simple moving average is $47.19. SLB Limited has a one year low of $31.64 and a one year high of $58.82.

SLB (NYSE:SLB) last issued its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. As a group, equities analysts anticipate that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. SLB’s dividend payout ratio (DPR) is currently 51.53%.

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.16% of the company’s stock.

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.