SLB Limited $SLB Stake Boosted by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC increased its position in shares of SLB Limited (NYSE:SLB) by 10.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 378,531 shares of the oil and gas company’s stock after purchasing an additional 36,562 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in SLB were worth $14,528,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in SLB by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock valued at $126,303,000 after buying an additional 128,660 shares during the last quarter. Alberta Investment Management Corp bought a new stake in SLB in the third quarter valued at $3,334,000. Cibc World Market Inc. lifted its stake in SLB by 48.7% in the fourth quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock valued at $52,468,000 after buying an additional 447,667 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in SLB by 65.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock valued at $7,898,000 after buying an additional 81,045 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in SLB by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 1,719,469 shares of the oil and gas company’s stock valued at $65,993,000 after buying an additional 42,212 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Price Performance

Shares of NYSE SLB opened at $55.80 on Wednesday. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The firm’s 50-day simple moving average is $54.35 and its 200 day simple moving average is $48.17. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock has a market cap of $83.42 billion, a P/E ratio of 24.36, a P/E/G ratio of 2.29 and a beta of 0.70.

SLB (NYSE:SLB) last issued its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business 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 business earned $0.72 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Equities analysts expect that SLB Limited will post 2.62 EPS for the current year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s payout ratio is presently 51.53%.

Insider Activity

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SLB has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of SLB in a research note on Monday, April 27th. Piper Sandler raised their target price on SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Barclays raised their target price on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Wall Street Zen cut SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Citigroup raised their target price on SLB from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.67.

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.