Nordea Investment Management AB Purchases 191,205 Shares of SLB Limited $SLB

Nordea Investment Management AB boosted its position in SLB Limited (NYSE:SLB) by 10.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,056,967 shares of the oil and gas company’s stock after purchasing an additional 191,205 shares during the period. Nordea Investment Management AB’s holdings in SLB were worth $70,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in SLB. Brighton Jones LLC lifted its stake in SLB by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC bought a new stake in SLB in the fourth quarter worth about $238,000. GAMMA Investing LLC lifted its stake in SLB by 45.5% in the first quarter. GAMMA Investing LLC now owns 21,671 shares of the oil and gas company’s stock worth $906,000 after purchasing an additional 6,778 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in SLB by 14.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 169,944 shares of the oil and gas company’s stock worth $7,104,000 after purchasing an additional 21,680 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in SLB by 8.9% in the first quarter. Blue Trust Inc. now owns 13,828 shares of the oil and gas company’s stock worth $578,000 after purchasing an additional 1,125 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of SLB from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Atb Cap Markets raised shares of SLB from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Piper Sandler decreased their price target on shares of SLB from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Jefferies Financial Group decreased their price target on shares of SLB from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, SLB currently has an average rating of “Moderate Buy” and an average price target of $52.00.

Insider Buying and Selling at SLB

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.22% of the company’s stock.

SLB Price Performance

Shares of SLB opened at $32.58 on Friday. The firm has a market capitalization of $48.66 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 9.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.97. The company’s fifty day moving average price is $34.49 and its 200-day moving average price is $34.53.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.99 billion. SLB had a net margin of 11.53% and a return on equity of 20.99%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. On average, equities research analysts predict that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be given a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. SLB’s dividend payout ratio is 44.02%.

About SLB

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.