Erste Asset Management GmbH Boosts Stock Holdings in SLB Limited $SLB

Erste Asset Management GmbH grew its position in shares of SLB Limited (NYSE:SLB) by 47.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,082 shares of the oil and gas company’s stock after purchasing an additional 31,088 shares during the quarter. Erste Asset Management GmbH’s holdings in SLB were worth $3,679,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its holdings in shares of SLB by 10.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 378,531 shares of the oil and gas company’s stock valued at $14,528,000 after purchasing an additional 36,562 shares in the last quarter. CenterBook Partners LP purchased a new position in shares of SLB during the 4th quarter valued at approximately $1,415,000. Fiera Capital Corp purchased a new position in shares of SLB during the 4th quarter valued at approximately $243,000. Syon Capital LLC increased its holdings in SLB by 21.0% in the 4th quarter. Syon Capital LLC now owns 12,633 shares of the oil and gas company’s stock worth $485,000 after acquiring an additional 2,195 shares in the last quarter. Finally, ING Groep NV increased its holdings in SLB by 50.0% in the 4th quarter. ING Groep NV now owns 290,918 shares of the oil and gas company’s stock worth $11,165,000 after acquiring an additional 96,993 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the business’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 transaction, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. The trade was a 10.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’s 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 transaction, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company’s stock.

SLB Trading Down 1.3%

Shares of SLB opened at $55.80 on Wednesday. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average is $54.35 and its two-hundred day moving average is $48.17. The stock has a market cap of $83.42 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.29 and a beta of 0.70.

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

SLB Dividend Announcement

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 given a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. SLB’s payout ratio is presently 51.53%.

Analyst Ratings Changes

Several brokerages recently commented on SLB. Evercore reissued an “outperform” rating and issued a $64.00 price target on shares of SLB in a report on Monday, April 27th. TD Cowen boosted their price target on shares of SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Susquehanna boosted their price target on shares of SLB from $60.00 to $65.00 and gave the stock a “positive” rating in a report on Monday, April 27th. Piper Sandler boosted their price target on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, BMO Capital Markets boosted their price target on shares of SLB from $55.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

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.