SLB Limited $SLB Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of SLB Limited (NYSE:SLB) by 13.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 210,056 shares of the oil and gas company’s stock after purchasing an additional 25,417 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in SLB were worth $7,220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after buying an additional 1,166 shares in the last quarter. Bison Wealth LLC purchased a new position in SLB in the fourth quarter valued at about $238,000. Focus Partners Wealth lifted its position in shares of SLB by 13.8% during the 1st quarter. Focus Partners Wealth now owns 169,101 shares of the oil and gas company’s stock valued at $7,076,000 after acquiring an additional 20,463 shares during the period. Intech Investment Management LLC boosted its stake in shares of SLB by 7.8% during the 1st quarter. Intech Investment Management LLC now owns 83,904 shares of the oil and gas company’s stock worth $3,507,000 after acquiring an additional 6,038 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its stake in shares of SLB by 11.8% during the 1st quarter. Jacobi Capital Management LLC now owns 8,074 shares of the oil and gas company’s stock worth $338,000 after acquiring an additional 852 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Price Performance

Shares of SLB opened at $45.20 on Monday. SLB Limited has a one year low of $31.11 and a one year high of $45.24. The stock’s fifty day moving average is $38.05 and its 200-day moving average is $35.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The firm has a market capitalization of $67.52 billion, a price-to-earnings ratio of 17.45 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. SLB’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. Equities analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd were issued a $0.285 dividend. The ex-dividend date was Wednesday, December 3rd. This represents a $1.14 annualized dividend and a dividend yield of 2.5%. SLB’s dividend payout ratio (DPR) is 44.02%.

Insider Activity at SLB

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the sale, the executive vice president owned 159,371 shares of the company’s stock, valued at $6,006,692.99. The trade was a 27.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephane Biguet sold 38,447 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total value of $1,412,927.25. Following the completion of the sale, the chief financial officer owned 175,690 shares of the company’s stock, valued at $6,456,607.50. This trade represents a 17.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 103,947 shares of company stock worth $3,871,337 over the last quarter. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler raised their price target on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Citigroup increased their target price on SLB from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Sanford C. Bernstein boosted their price target on shares of SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a report on Thursday, December 11th. Cowen reaffirmed a “buy” rating and issued a $57.00 price objective on shares of SLB in a report on Thursday, December 11th. Finally, Barclays cut their price objective on shares of SLB from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.42.

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.