ABN AMRO Bank N.V. Grows Position in SLB Limited $SLB

ABN AMRO Bank N.V. raised its position in shares of SLB Limited (NYSE:SLB) by 117.9% during the 1st quarter, Holdings Channel reports. The fund owned 33,168 shares of the oil and gas company’s stock after purchasing an additional 17,947 shares during the period. ABN AMRO Bank N.V.’s holdings in SLB were worth $1,716,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MV Capital Management Inc. bought a new stake in SLB in the fourth quarter worth $28,000. Strategic Wealth Advisors LLC bought a new position in SLB during the fourth quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of SLB in the 4th quarter worth $31,000. Steph & Co. raised its position in shares of SLB by 97.5% during the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 394 shares in the last quarter. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of SLB in the 4th quarter valued at approximately $31,000. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Performance

SLB opened at $46.95 on Monday. 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 firm has a 50 day moving average of $54.22 and a two-hundred day moving average of $49.45. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The firm has a market capitalization of $70.19 billion, a PE ratio of 20.50, a P/E/G ratio of 1.89 and a beta of 0.70.

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

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. BMO Capital Markets lifted their price target on shares of SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Evercore reissued an “outperform” rating and set a $64.00 price target on shares of SLB in a research report on Monday, April 27th. Wall Street Zen lowered shares of SLB from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. JPMorgan Chase & Co. lifted their target price on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, The Goldman Sachs Group upped their price target on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.83.

Insider Transactions at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the 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 owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.

SLB 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.