Thrivent Financial for Lutherans Acquires 11,773 Shares of SLB Limited $SLB

Thrivent Financial for Lutherans lifted its holdings in shares of SLB Limited (NYSE:SLB) by 20.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 69,253 shares of the oil and gas company’s stock after acquiring an additional 11,773 shares during the period. Thrivent Financial for Lutherans’ holdings in SLB were worth $2,658,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SLB. Root Financial Partners LLC acquired a new position in SLB in the 3rd quarter worth about $29,000. Strategic Wealth Advisors LLC acquired a new position in SLB in the 4th quarter worth about $30,000. Strengthening Families & Communities LLC acquired a new position in SLB in the 3rd quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in SLB in the 4th quarter worth about $31,000. Finally, Steph & Co. grew its position in shares of SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 394 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Trading Down 0.0%

Shares of SLB stock opened at $57.27 on Monday. The stock has a fifty day simple moving average of $52.40 and a 200 day simple moving average of $46.50. SLB Limited has a 12-month low of $31.64 and a 12-month high of $57.88. The company has a market capitalization of $85.63 billion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 2.32 and a beta of 0.72. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. SLB’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that SLB Limited will post 2.61 earnings per share for the current fiscal year.

SLB Dividend Announcement

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

Insider Buying and Selling at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the sale, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the sale, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Freedom Capital lowered SLB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price target on shares of SLB in a report on Sunday, April 26th. Bank of America increased their price target on SLB from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 26th. JPMorgan Chase & Co. increased their price target on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Loop Capital set a $48.00 price target on SLB in a report on Tuesday, January 27th. Three investment 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 given a Sell rating to the company’s stock. According to data from MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.74.

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.