Asset Management One Co. Ltd. Grows Stock Position in SLB Limited $SLB

Asset Management One Co. Ltd. boosted its holdings in SLB Limited (NYSE:SLB) by 9.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 634,815 shares of the oil and gas company’s stock after acquiring an additional 52,500 shares during the period. Asset Management One Co. Ltd.’s holdings in SLB were worth $21,819,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Synergy Asset Management LLC boosted its position in shares of SLB by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock worth $2,732,000 after acquiring an additional 40,415 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of SLB by 1,937.4% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock worth $34,265,000 after acquiring an additional 948,015 shares in the last quarter. Assetmark Inc. lifted its stake in SLB by 19.5% during the second quarter. Assetmark Inc. now owns 56,561 shares of the oil and gas company’s stock worth $1,912,000 after purchasing an additional 9,210 shares during the last quarter. Shell Asset Management Co. boosted its holdings in SLB by 48.1% in the second quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company’s stock valued at $2,121,000 after purchasing an additional 20,387 shares in the last quarter. Finally, Godsey & Gibb Inc. increased its stake in SLB by 9.6% in the second quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company’s stock valued at $16,667,000 after purchasing an additional 43,135 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at SLB

In other news, Director Peter John Coleman sold 5,500 shares of SLB stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the sale, the director owned 18,671 shares of the company’s stock, valued at $668,795.22. The trade was a 22.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 38,447 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the transaction, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at $6,456,607.50. This represents a 17.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 103,947 shares of company stock worth $3,871,337. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SLB. Rothschild & Co Redburn initiated coverage on shares of SLB in a research report on Monday, November 3rd. They set a “buy” rating and a $48.00 price objective for the company. UBS Group lifted their price target on shares of SLB from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. TD Cowen upped their price objective on shares of SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Cowen reaffirmed a “buy” rating and set a $57.00 price objective on shares of SLB in a report on Thursday, December 11th. Finally, Citigroup boosted their target price on SLB from $47.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and an average price target of $52.42.

SLB Stock Up 8.9%

SLB opened at $43.78 on Tuesday. SLB Limited has a 52 week low of $31.11 and a 52 week high of $45.16. The business has a 50 day moving average price of $37.44 and a two-hundred day moving average price of $35.59. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The company has a market cap of $65.41 billion, a PE ratio of 16.91 and a beta of 0.72.

SLB (NYSE:SLB) last announced its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. During the same period last year, the business posted $0.89 EPS. The company’s revenue was down 2.5% on a year-over-year basis. As a group, research analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 2.6%. SLB’s dividend payout ratio is presently 44.02%.

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.