Nordea Investment Management AB Purchases 100,918 Shares of SLB Limited $SLB

Nordea Investment Management AB boosted its position in SLB Limited (NYSE:SLB) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,157,885 shares of the oil and gas company’s stock after buying an additional 100,918 shares during the quarter. Nordea Investment Management AB’s holdings in SLB were worth $72,354,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Hedges Asset Management LLC raised its holdings in shares of SLB by 0.9% in the third quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock valued at $1,203,000 after purchasing an additional 300 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in SLB by 2.2% during the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock worth $486,000 after purchasing an additional 308 shares during the last quarter. NewSquare Capital LLC grew its position in SLB by 51.4% in the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 341 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in SLB by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 350 shares during the last quarter. Finally, Choreo LLC lifted its position in SLB by 0.8% during the 2nd quarter. Choreo LLC now owns 45,222 shares of the oil and gas company’s stock worth $1,541,000 after buying an additional 357 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the transaction, the executive vice president owned 159,371 shares in the company, valued at approximately $6,006,692.99. This trade represents a 27.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter John Coleman sold 5,500 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the completion of the sale, the director owned 18,671 shares of the company’s stock, valued at $668,795.22. This trade represents a 22.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 103,947 shares of company stock valued at $3,871,337. 0.22% of the stock is owned by insiders.

SLB Price Performance

Shares of SLB opened at $46.94 on Thursday. The company’s 50-day moving average is $38.62 and its 200-day moving average is $36.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The firm has a market capitalization of $70.12 billion, a PE ratio of 18.12 and a beta of 0.72. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $47.73.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. SLB had a net margin of 10.34% and a return on equity of 18.97%. SLB’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 EPS. Equities analysts forecast that SLB Limited will post 3.38 EPS for the current year.

Analysts Set New Price Targets

SLB has been the subject of several recent research reports. Citigroup increased their price target on SLB from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Redburn Partners set a $48.00 target price on shares of SLB in a research note on Monday, November 3rd. Cowen reaffirmed a “buy” rating and set a $57.00 price target on shares of SLB in a research report on Thursday, December 11th. The Goldman Sachs Group reissued a “buy” rating and issued a $49.00 price objective on shares of SLB in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.20.

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.