Capital Research Global Investors Purchases 25,384 Shares of SLB Limited $SLB

Capital Research Global Investors boosted its stake in shares of SLB Limited (NYSE:SLB) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,031,260 shares of the oil and gas company’s stock after buying an additional 25,384 shares during the period. Capital Research Global Investors’ holdings in SLB were worth $310,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of SLB. Twin Peaks Wealth Advisors LLC acquired a new stake in SLB in the second quarter worth about $25,000. Root Financial Partners LLC purchased a new stake in shares of SLB in the 3rd quarter valued at $29,000. Corsicana & Co. acquired a new stake in SLB during the 3rd quarter worth about $31,000. Strengthening Families & Communities LLC acquired a new stake in SLB during the third quarter worth about $31,000. Finally, SouthState Bank Corp grew its stake in shares of SLB by 57.4% during the 3rd 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 period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the business’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 directly owned 140,602 shares of the company’s stock, valued at $6,987,919.40. The trade was a 29.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stephane Biguet sold 61,017 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 $3,032,544.90. Following the completion of the sale, the chief financial officer directly owned 155,548 shares in the company, valued at approximately $7,730,735.60. This represents a 28.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 156,902 shares of company stock valued at $7,796,666 in the last quarter. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SLB shares. JPMorgan Chase & Co. upped their price objective on shares of SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Loop Capital set a $48.00 price target on SLB in a research note on Tuesday, January 27th. Piper Sandler upped their price target on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Susquehanna raised their price objective on SLB from $52.00 to $58.00 and gave the company a “positive” rating in a report on Monday, January 26th. Finally, BMO Capital Markets boosted their price objective on SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Three research 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’s stock. According to MarketBeat, SLB currently has an average rating of “Moderate Buy” and an average target price of $52.96.

SLB Price Performance

Shares of NYSE SLB opened at $48.10 on Wednesday. The firm has a 50-day simple moving average of $48.11 and a 200-day simple moving average of $40.26. 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 stock has a market capitalization of $72.27 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 3.21 and a beta of 0.68. SLB Limited has a 52 week low of $31.11 and a 52 week high of $52.45.

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

SLB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be issued a $0.295 dividend. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s payout ratio is currently 49.79%.

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.