Swiss National Bank Acquires 208,697 Shares of SLB Limited $SLB

Swiss National Bank lifted its holdings in SLB Limited (NYSE:SLB) by 5.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,325,024 shares of the oil and gas company’s stock after purchasing an additional 208,697 shares during the period. Swiss National Bank owned about 0.29% of SLB worth $148,651,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC bought a new position in SLB in the second quarter worth approximately $25,000. Root Financial Partners LLC purchased a new stake in SLB during the third quarter worth $29,000. Corsicana & Co. bought a new stake in SLB during the 3rd quarter valued at $31,000. Strengthening Families & Communities LLC bought a new stake in SLB during the 3rd quarter valued at $31,000. Finally, SouthState Bank Corp increased its holdings in shares of SLB by 57.4% in the 3rd quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 442 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $2,982,000.00. Following the completion of the sale, the executive vice president directly owned 140,602 shares in the company, valued at $6,987,919.40. This trade represents a 29.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephane Biguet sold 61,017 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the sale, the chief financial officer directly owned 155,548 shares in the company, valued at approximately $7,730,735.60. This represents a 28.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 156,902 shares of company stock valued at $7,796,666. 0.16% of the stock is owned by company insiders.

SLB Stock Up 0.7%

SLB stock opened at $47.24 on Tuesday. 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 $70.97 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 3.19 and a beta of 0.68. SLB Limited has a 1-year low of $31.11 and a 1-year high of $52.45. The business has a fifty day moving average price of $47.92 and a 200-day moving average price of $40.17.

SLB (NYSE:SLB) last announced its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $9.54 billion. During the same period in the prior year, the company posted $0.92 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts forecast that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. The ex-dividend date is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. SLB’s payout ratio is presently 49.79%.

Analysts Set New Price Targets

SLB has been the subject of several recent research reports. Royal Bank Of Canada boosted their price target on SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. lifted their target price on SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Sanford C. Bernstein boosted their target price on shares of SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Stifel Nicolaus set a $56.00 price target on shares of SLB in a research report on Monday, January 26th. Finally, Piper Sandler raised their price target on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and a consensus target price of $52.96.

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.