Cibc World Market Inc. Buys 104,176 Shares of SLB Limited $SLB

Cibc World Market Inc. raised its stake in SLB Limited (NYSE:SLB) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 919,396 shares of the oil and gas company’s stock after acquiring an additional 104,176 shares during the period. Cibc World Market Inc. owned approximately 0.06% of SLB worth $31,600,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of SLB by 14.2% in the second quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company’s stock worth $5,080,734,000 after buying an additional 18,672,021 shares in the last quarter. Franklin Resources Inc. raised its holdings in SLB by 30.4% in the 2nd quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock worth $683,901,000 after acquiring an additional 4,719,852 shares during the last quarter. Norges Bank bought a new position in SLB in the 2nd quarter valued at approximately $618,697,000. Amundi lifted its position in SLB by 29.9% in the 2nd quarter. Amundi now owns 11,415,740 shares of the oil and gas company’s stock valued at $409,939,000 after acquiring an additional 2,624,679 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in SLB by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 9,681,754 shares of the oil and gas company’s stock valued at $327,243,000 after purchasing an additional 114,190 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of several recent analyst reports. Barclays boosted their price target on SLB from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Royal Bank Of Canada raised their price target on shares of SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Jefferies Financial Group lifted their price target on shares of SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Sunday, February 1st. Piper Sandler increased their price objective on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Finally, BMO Capital Markets lifted their target price on shares of SLB from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and an average price target of $52.38.

SLB Trading Up 2.6%

Shares of SLB stock opened at $51.61 on Thursday. SLB Limited has a 1-year low of $31.11 and a 1-year high of $51.99. The company’s fifty day simple moving average is $43.73 and its 200-day simple moving average is $38.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. The stock has a market capitalization of $77.17 billion, a PE ratio of 21.78, a P/E/G ratio of 3.42 and a beta of 0.73.

SLB (NYSE:SLB) last announced its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same period last year, the firm earned $0.92 EPS. SLB’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. This is a boost from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. SLB’s dividend payout ratio is presently 48.10%.

Insider Buying and Selling

In other SLB news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the sale, the executive vice president owned 140,602 shares in the company, valued at approximately $6,987,919.40. This trade represents a 29.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dianne B. Ralston sold 18,617 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.50, for a total transaction of $921,541.50. Following the completion of the transaction, the insider owned 224,097 shares of the company’s stock, valued at approximately $11,092,801.50. The trade was a 7.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 162,402 shares of company stock worth $7,993,676 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

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.