Schroder Investment Management Group Buys 71,889 Shares of SLB Limited $SLB

Schroder Investment Management Group grew its stake in shares of SLB Limited (NYSE:SLBFree Report) by 9.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 839,168 shares of the oil and gas company’s stock after acquiring an additional 71,889 shares during the period. Schroder Investment Management Group owned about 0.06% of SLB worth $28,842,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC bought a new stake in shares of SLB in the 2nd quarter worth approximately $25,000. Root Financial Partners LLC bought a new position in SLB during the third quarter valued at $29,000. Corsicana & Co. purchased a new stake in SLB in the third quarter worth $31,000. Strengthening Families & Communities LLC purchased a new stake in SLB in the third quarter worth $31,000. Finally, SouthState Bank Corp raised its stake in shares of SLB by 57.4% in the third quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on SLB from $43.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Jefferies Financial Group lifted their price objective on SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Sunday, February 1st. Evercore set a $54.00 price objective on SLB and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Bank of America upped their price objective on shares of SLB from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Loop Capital set a $48.00 target price on shares of SLB in a research note on Tuesday, January 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Check Out Our Latest Stock Analysis on SLB

Insider Transactions at SLB

In other news, CFO Stephane Biguet sold 61,017 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 value of $3,032,544.90. Following the completion of the transaction, the chief financial officer directly owned 155,548 shares in the company, valued at approximately $7,730,735.60. This trade represents a 28.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dianne B. Ralston sold 18,617 shares of the business’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 transaction of $921,541.50. Following the transaction, the insider directly owned 224,097 shares of the company’s stock, valued at approximately $11,092,801.50. This represents a 7.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 156,902 shares of company stock valued at $7,796,666. Company insiders own 0.16% of the company’s stock.

Key Stories Impacting SLB

Here are the key news stories impacting SLB this week:

SLB Price Performance

Shares of NYSE SLB opened at $44.50 on Friday. The stock has a market cap of $66.86 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 3.28 and a beta of 0.68. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $52.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33. The stock has a fifty day moving average of $48.43 and a 200-day moving average of $40.34.

SLB (NYSE:SLBGet Free Report) 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. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. During the same quarter in the prior year, the firm posted $0.92 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts anticipate that SLB Limited will post 3.38 earnings per share for the current 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 dividend of $0.295 per share. This is a boost from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, February 11th. SLB’s dividend payout ratio (DPR) is currently 49.79%.

SLB Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SLB (NYSE:SLB)

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