Geode Capital Management LLC Has $1.29 Billion Stock Position in SLB Limited $SLB

Geode Capital Management LLC increased its position in shares of SLB Limited (NYSE:SLB) by 1.5% in the fourth quarter, HoldingsChannel reports. The firm owned 33,840,883 shares of the oil and gas company’s stock after purchasing an additional 510,747 shares during the period. Geode Capital Management LLC’s holdings in SLB were worth $1,292,993,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Strategic Wealth Advisors LLC acquired a new stake in shares of SLB during the 4th quarter worth about $30,000. Strengthening Families & Communities LLC acquired a new stake in shares of SLB during the 3rd quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SLB during the 4th quarter worth about $31,000. Steph & Co. increased its position in shares of SLB by 97.5% during 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. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of SLB during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Down 2.4%

SLB stock opened at $55.12 on Friday. The company’s 50 day simple moving average is $53.34 and its 200 day simple moving average is $47.07. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The firm has a market capitalization of $82.41 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 2.29 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.

SLB (NYSE:SLB) last released 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 business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same quarter last year, the firm earned $0.72 EPS. SLB’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that SLB Limited will post 2.62 EPS for the current year.

SLB Dividend Announcement

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

Insider Buying and Selling

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director owned 16,953 shares of the company’s stock, 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 filing with the SEC, which is available through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB 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 completion of the transaction, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Susquehanna raised their price objective on shares of SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research report on Monday, April 27th. Evercore restated an “outperform” rating and issued a $64.00 price objective on shares of SLB in a research report on Monday, April 27th. Weiss Ratings cut shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets raised their price objective on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Three equities research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.74.

SLB Company 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.