AMF Tjanstepension AB Has $65.80 Million Stake in SLB Limited $SLB

AMF Tjanstepension AB increased its position in SLB Limited (NYSE:SLB) by 41.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,280,458 shares of the oil and gas company’s stock after buying an additional 376,305 shares during the period. AMF Tjanstepension AB’s holdings in SLB were worth $65,803,000 at the end of the most recent reporting period.

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

SLB Price Performance

Shares of SLB stock opened at $47.76 on Monday. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a market capitalization of $71.40 billion, a P/E ratio of 20.85, a P/E/G ratio of 1.94 and a beta of 0.72. The stock has a 50 day moving average of $52.65 and a two-hundred day moving average of $49.98. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB) last released its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.SLB’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 earnings per share. As a group, equities analysts expect that SLB Limited will post 2.59 EPS for the current year.

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd were paid a $0.295 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. SLB’s dividend payout ratio is currently 51.53%.

Insiders Place Their Bets

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director owned 16,953 shares of the company’s stock, valued at $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 47,421 shares of the company’s stock, 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. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of several analyst reports. TD Cowen reduced their target price on SLB from $66.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Susquehanna lowered their price target on SLB from $65.00 to $55.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. BMO Capital Markets lifted their price target 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. JPMorgan Chase & Co. boosted their price objective on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, Morgan Stanley set a $57.00 price objective on shares of SLB in a report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, SLB has a consensus rating of “Moderate Buy” and a consensus target price of $59.80.

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.