TD Asset Management Inc Buys 92,088 Shares of SLB Limited $SLB

TD Asset Management Inc raised its stake in shares of SLB Limited (NYSE:SLB) by 17.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 614,261 shares of the oil and gas company’s stock after purchasing an additional 92,088 shares during the quarter. TD Asset Management Inc’s holdings in SLB were worth $21,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in SLB. Vanguard Group Inc. lifted its holdings in shares of SLB by 23.3% during the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock worth $6,371,335,000 after acquiring an additional 35,057,313 shares during the last quarter. Franklin Resources Inc. lifted its stake in SLB by 30.4% during the second quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock worth $683,901,000 after purchasing an additional 4,719,852 shares during the last quarter. Norges Bank bought a new stake in SLB during the second quarter worth about $618,697,000. Amundi boosted its holdings in shares of SLB by 29.9% in the 2nd quarter. Amundi now owns 11,415,740 shares of the oil and gas company’s stock worth $409,939,000 after purchasing an additional 2,624,679 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of SLB by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 9,681,754 shares of the oil and gas company’s stock valued at $327,243,000 after purchasing an additional 114,190 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Trading Down 0.3%

Shares of SLB opened at $51.34 on Friday. The stock has a market capitalization of $76.76 billion, a P/E ratio of 21.66, a PEG ratio of 3.49 and a beta of 0.73. SLB Limited has a twelve month low of $31.11 and a twelve month high of $52.40. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $46.70 and a two-hundred day simple moving average of $39.50.

SLB (NYSE:SLB) last issued its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, beating the consensus estimate 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 net margin of 9.45% and a return on equity of 17.45%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 earnings per share. On average, research analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be given a $0.295 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s dividend payout ratio is 49.79%.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 4,000 shares of SLB stock in a transaction on Monday, January 26th. The shares were sold at an average price of $50.29, for a total value of $201,160.00. Following the sale, the director owned 19,525 shares in the company, valued at $981,912.25. The trade was a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the transaction, the executive vice president owned 140,602 shares of the company’s stock, valued at $6,987,919.40. This trade represents a 29.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 156,902 shares of company stock valued at $7,796,666. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SLB. Argus upgraded SLB to a “strong-buy” rating in a research report on Monday, January 26th. TD Cowen boosted their price objective on shares of SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Citigroup upped their price objective on shares of SLB from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Royal Bank Of Canada lifted their target price on shares of SLB from $51.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, Piper Sandler upped their price target on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.38.

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.