Nordea Investment Management AB Has $3.73 Million Position in SLB Limited $SLB

Nordea Investment Management AB lessened its stake in shares of SLB Limited (NYSE:SLB) by 95.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,124 shares of the oil and gas company’s stock after selling 2,060,761 shares during the period. Nordea Investment Management AB’s holdings in SLB were worth $3,733,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Howard Capital Management Inc. increased its position in shares of SLB by 3.2% in the third quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock worth $315,000 after purchasing an additional 288 shares during the period. Fielder Capital Group LLC lifted its position in SLB by 2.5% during the third quarter. Fielder Capital Group LLC now owns 12,137 shares of the oil and gas company’s stock worth $417,000 after purchasing an additional 293 shares during the period. Hedges Asset Management LLC grew its stake in SLB by 0.9% during the third quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock worth $1,203,000 after buying an additional 300 shares in the last quarter. Gables Capital Management Inc. grew its stake in SLB by 31.6% during the third quarter. Gables Capital Management Inc. now owns 1,250 shares of the oil and gas company’s stock worth $43,000 after buying an additional 300 shares in the last quarter. Finally, Anchor Investment Management LLC increased its holdings in SLB by 7.4% in the 3rd quarter. Anchor Investment Management LLC now owns 4,350 shares of the oil and gas company’s stock valued at $150,000 after buying an additional 300 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. TD Cowen boosted their target price on shares of SLB from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Freedom Capital cut shares of SLB from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Loop Capital set a $48.00 price objective on shares of SLB in a research report on Tuesday, January 27th. Barclays boosted their price objective on shares of SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Finally, BMO Capital Markets raised their target price on SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Three equities research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.16.

SLB Trading Up 2.3%

SLB opened at $53.51 on Friday. The company’s 50 day moving average is $49.27 and its 200-day moving average is $41.30. SLB Limited has a 1-year low of $31.11 and a 1-year high of $53.70. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. The company has a market cap of $80.39 billion, a P/E ratio of 22.58, a PEG ratio of 3.72 and a beta of 0.68.

SLB (NYSE:SLB) last released 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 analysts’ expectations 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 company earned $0.92 EPS. Equities 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 issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. 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 currently 49.79%.

Insider Activity at SLB

In other news, Director La Chevardiere Patrick De sold 4,000 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.29, for a total value of $201,160.00. Following the completion of the transaction, the director directly owned 19,525 shares in the company, valued at approximately $981,912.25. This represents a 17.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Howard Guild sold 13,268 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $659,419.60. Following the sale, the chief accounting officer directly owned 22,407 shares in the company, valued at approximately $1,113,627.90. This trade represents a 37.19% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 156,902 shares of company stock valued at $7,796,666. 0.16% of the stock is owned by company insiders.

SLB 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.