BI Asset Management Fondsmaeglerselskab A S Increases Holdings in SLB Limited $SLB

BI Asset Management Fondsmaeglerselskab A S grew its holdings in SLB Limited (NYSE:SLB) by 184.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 163,251 shares of the oil and gas company’s stock after acquiring an additional 105,817 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in SLB were worth $6,266,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of SLB by 23.3% during the third quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock valued at $6,371,335,000 after buying an additional 35,057,313 shares during the period. Norges Bank bought a new stake in SLB in the fourth quarter valued at $809,557,000. Bank of New York Mellon Corp increased its position in SLB by 64.4% during the 4th quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company’s stock valued at $602,444,000 after purchasing an additional 6,149,511 shares during the period. State Street Corp increased its position 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 purchasing an additional 5,466,786 shares during the period. Finally, Greenhaven Associates Inc. bought a new position in SLB in the 4th quarter worth $178,883,000. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SLB shares. UBS Group lifted their target price on shares of SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley set a $57.00 price target on shares of SLB in a research note on Monday, April 27th. TD Cowen raised their price objective on shares of SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 27th. The Goldman Sachs Group upped their target price on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, Piper Sandler increased their target price on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

Insider Buying and Selling at SLB

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the sale, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company’s stock.

SLB Trading Down 0.2%

Shares of NYSE SLB opened at $54.79 on Monday. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. 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 firm has a 50-day moving average of $54.22 and a 200 day moving average of $47.89. The stock has a market cap of $81.91 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 2.22 and a beta of 0.70.

SLB (NYSE:SLB) last announced its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders 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 dividend on an annualized basis and a yield of 2.2%. SLB’s payout ratio is presently 51.53%.

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.