SLB Limited $SLB Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of SLB Limited (NYSE:SLB) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 347,495 shares of the oil and gas company’s stock after selling 10,778 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in SLB were worth $13,337,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SLB. Vanguard Group Inc. raised its holdings in SLB by 0.6% in the fourth 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 acquiring an additional 1,080,999 shares in the last quarter. State Street Corp raised its holdings in SLB by 7.0% in the third 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 acquiring an additional 5,466,786 shares in the last quarter. Geode Capital Management LLC raised its holdings in SLB by 1.5% in the fourth 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 acquiring an additional 510,747 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in SLB by 0.6% in the fourth 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 acquiring an additional 174,564 shares in the last quarter. Finally, Norges Bank acquired a new stake in SLB in the fourth quarter valued at approximately $809,557,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction dated 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 sale, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. The trade was a 52.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the director directly owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on SLB. Piper Sandler increased their price target on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Susquehanna increased their price target on shares of SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research note on Monday, April 27th. Citigroup increased their price target on shares of SLB from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Evercore reiterated an “outperform” rating and issued a $64.00 price target on shares of SLB in a research note on Monday, April 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price target on shares of SLB in a research note on Sunday, April 26th. Three research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.74.

SLB Price Performance

SLB stock opened at $54.78 on Tuesday. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The business has a fifty day moving average of $53.66 and a two-hundred day moving average of $47.32. The company has a market cap of $81.91 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 2.21 and a beta of 0.72.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The business 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 business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, analysts predict that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

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

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.