SLB Limited $SLB Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in SLB Limited (NYSE:SLB) by 60.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 396,174 shares of the oil and gas company’s stock after buying an additional 149,062 shares during the period. CIBC Asset Management Inc’s holdings in SLB were worth $15,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in SLB by 64.4% in the 4th quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company’s stock valued at $602,444,000 after buying an additional 6,149,511 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of SLB by 37.0% during the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 227 shares during the period. Westpac Banking Corp boosted its position in shares of SLB by 35.8% during the 4th quarter. Westpac Banking Corp now owns 7,858 shares of the oil and gas company’s stock valued at $302,000 after acquiring an additional 2,070 shares during the last quarter. Capital Innovations LLC acquired a new position in shares of SLB during the 4th quarter valued at about $20,401,000. Finally, Sequent Asset Management LLC grew its holdings in shares of SLB by 104.5% in the fourth quarter. Sequent Asset Management LLC now owns 253,729 shares of the oil and gas company’s stock valued at $9,738,000 after purchasing an additional 129,648 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $65.00 price objective on shares of SLB in a research report on Sunday, April 26th. UBS Group increased their price target on shares of SLB from $61.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Piper Sandler raised their price target on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Citigroup lifted their price target on shares of SLB from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. upped their price objective on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.67.

Insider Transactions at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction dated 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 sale, the executive vice president owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm’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 completion of the transaction, the director directly owned 16,953 shares of the company’s stock, valued at $921,056.49. This represents a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company’s stock.

SLB Price Performance

SLB stock opened at $58.10 on Friday. 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 company has a market capitalization of $86.86 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 2.30 and a beta of 0.70. The company’s 50 day simple moving average is $54.16 and its 200-day simple moving average is $47.75. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82.

SLB (NYSE:SLB) last posted its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter last year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts expect that SLB Limited will post 2.62 earnings per share 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 paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.0%. SLB’s dividend 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.