4,660,827 Shares in SLB Limited $SLB Purchased by Greenhaven Associates Inc.

Greenhaven Associates Inc. bought a new stake in SLB Limited (NYSE:SLB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,660,827 shares of the oil and gas company’s stock, valued at approximately $178,883,000. SLB comprises approximately 2.9% of Greenhaven Associates Inc.’s investment portfolio, making the stock its 12th biggest position. Greenhaven Associates Inc. owned about 0.31% of SLB as of its most recent filing with the Securities and Exchange Commission.

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

SLB Trading Down 2.5%

Shares of SLB opened at $46.61 on Friday. SLB Limited has a twelve month low of $31.11 and a twelve month high of $52.45. The firm has a market capitalization of $70.03 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 3.40 and a beta of 0.68. 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 stock’s fifty day simple moving average is $48.74 and its 200 day simple moving average is $40.75.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. On average, equities research analysts forecast that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio (DPR) is presently 49.79%.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the sale, the executive vice president owned 140,602 shares of the company’s stock, valued at approximately $6,987,919.40. This represents a 29.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dianne B. Ralston sold 18,617 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.50, for a total transaction of $921,541.50. Following the completion of the transaction, the insider owned 224,097 shares in the company, valued at $11,092,801.50. The trade was a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 156,902 shares of company stock worth $7,796,666. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of a number of recent analyst reports. Wall Street Zen downgraded SLB from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Loop Capital set a $48.00 target price on SLB in a research report on Tuesday, January 27th. Barclays raised their price target on SLB from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Jefferies Financial Group upped their price objective on shares of SLB from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Sunday, February 1st. Finally, Sanford C. Bernstein increased their price objective on shares of SLB from $52.30 to $56.10 and gave the stock an “outperform” rating in a report on Thursday, March 12th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.16.

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.