SLB Limited $SLB Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its stake in SLB Limited (NYSE:SLB) by 707.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 115,079 shares of the oil and gas company’s stock after acquiring an additional 100,834 shares during the quarter. QRG Capital Management Inc.’s holdings in SLB were worth $5,914,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of SLB by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock worth $7,156,177,000 after purchasing an additional 1,080,999 shares in the last quarter. State Street Corp lifted its stake in SLB by 1.0% in the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company’s stock valued at $3,263,998,000 after buying an additional 799,218 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in SLB by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company’s stock valued at $2,072,844,000 after buying an additional 1,458,650 shares in the last quarter. Morgan Stanley boosted its holdings in SLB by 1.3% in the 4th quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company’s stock worth $1,423,716,000 after buying an additional 482,533 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in SLB by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock worth $1,292,993,000 after buying an additional 510,747 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Barclays boosted their price target on SLB from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Stifel Nicolaus lifted their target price on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Evercore reaffirmed an “outperform” rating and set a $64.00 target price on shares of SLB in a report on Monday, April 27th. Piper Sandler increased their target price on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Finally, BMO Capital Markets increased their target price on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

SLB Price Performance

NYSE:SLB opened at $45.09 on Monday. 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 company has a market capitalization of $67.42 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.82 and a beta of 0.72. The stock’s fifty day moving average is $53.51 and its two-hundred day moving average is $49.67.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping 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 firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same quarter last year, the company posted $0.72 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts expect that SLB Limited will post 2.6 EPS for the current year.

SLB Announces Dividend

The firm 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. This represents a $1.18 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s dividend payout ratio is currently 51.53%.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by corporate insiders.

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.