SLB Limited $SLB Holdings Increased by ING Groep NV

ING Groep NV grew its stake in shares of SLB Limited (NYSE:SLB) by 50.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 290,918 shares of the oil and gas company’s stock after buying an additional 96,993 shares during the quarter. ING Groep NV’s holdings in SLB were worth $11,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLB. Strategic Wealth Advisors LLC bought a new stake in shares of SLB in the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SLB in the 4th quarter worth approximately $31,000. Steph & Co. raised its holdings in shares of SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 394 shares in the last quarter. Lloyd Advisory Services LLC. bought a new stake in shares of SLB in the 4th quarter worth approximately $31,000. Finally, Bruce G. Allen Investments LLC raised its holdings in shares of SLB by 37.0% in the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 227 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at SLB

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president directly owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the transaction, the director directly owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SLB shares. The Goldman Sachs Group boosted their target price on shares of SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. TD Cowen boosted their target price on shares of SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Evercore reiterated an “outperform” rating and issued a $64.00 target price on shares of SLB in a report on Monday, April 27th. Stifel Nicolaus boosted their target price on shares of SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Piper Sandler boosted their target price on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given 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 $60.67.

SLB Trading Down 0.2%

NYSE SLB opened at $54.79 on Monday. SLB Limited has a twelve month low of $31.64 and a twelve month high of $58.82. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The stock has a market cap of $81.91 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.22 and a beta of 0.70. The firm’s 50 day moving average price is $54.22 and its two-hundred day moving average price is $47.89.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the previous year, the company posted $0.72 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts anticipate that SLB Limited will post 2.62 EPS for the current year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB’s payout ratio is presently 51.53%.

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.