Lansforsakringar Fondforvaltning AB publ Has $21.28 Million Stock Position in SLB Limited $SLB

Lansforsakringar Fondforvaltning AB publ increased its holdings in SLB Limited (NYSE:SLB) by 10.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 619,268 shares of the oil and gas company’s stock after purchasing an additional 59,786 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in SLB were worth $21,284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC bought a new position in SLB in the 2nd quarter worth approximately $25,000. Root Financial Partners LLC bought a new position in SLB in the 3rd quarter worth approximately $29,000. Corsicana & Co. acquired a new stake in shares of SLB during the 3rd quarter worth approximately $31,000. Strengthening Families & Communities LLC acquired a new stake in shares of SLB during the third quarter worth $31,000. Finally, NewSquare Capital LLC boosted its stake in SLB by 51.4% during the 2nd quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 341 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Trading Down 1.4%

SLB opened at $50.82 on Monday. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $52.40. The firm has a market capitalization of $75.99 billion, a PE ratio of 21.44, a P/E/G ratio of 3.46 and a beta of 0.72. 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 company’s 50-day moving average is $45.37 and its 200 day moving average is $38.89.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. As a group, research analysts predict that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.3%. This is a boost from SLB’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is presently 49.79%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SLB shares. BMO Capital Markets boosted their price objective on shares of SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Bank of America lifted their target price on SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Royal Bank Of Canada increased their target price on SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Sanford C. Bernstein upped their price target on SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a research report on Thursday, December 11th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $49.00 price target on shares of SLB in a report on Wednesday, January 14th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.38.

Insider Activity at SLB

In related news, insider Dianne B. Ralston sold 18,617 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.50, for a total value of $921,541.50. Following the transaction, the insider directly owned 224,097 shares in the company, valued at approximately $11,092,801.50. This represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $659,419.60. Following the sale, the chief accounting officer directly owned 22,407 shares of the company’s stock, valued at $1,113,627.90. This represents a 37.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 162,402 shares of company stock worth $7,993,676 in the last 90 days. 0.22% of the stock is owned by company 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.