SLB Limited $SLB Position Lowered by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS decreased its stake in shares of SLB Limited (NYSE:SLB) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 656,026 shares of the oil and gas company’s stock after selling 58,200 shares during the period. KLP Kapitalforvaltning AS’s holdings in SLB were worth $25,365,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Synergy Asset Management LLC lifted its holdings in SLB by 100.0% in the third quarter. Synergy Asset Management LLC now owns 80,830 shares of the oil and gas company’s stock worth $2,732,000 after acquiring an additional 40,415 shares during the last quarter. Americana Partners LLC lifted its holdings in SLB by 10.1% in the third quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company’s stock worth $8,526,000 after acquiring an additional 22,706 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in SLB by 13.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company’s stock worth $7,220,000 after acquiring an additional 25,417 shares during the last quarter. Nordea Investment Management AB lifted its holdings in SLB by 4.9% in the third quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company’s stock worth $72,354,000 after acquiring an additional 100,918 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its holdings in SLB by 1,937.4% in the third quarter. Bank Pictet & Cie Europe AG now owns 996,948 shares of the oil and gas company’s stock worth $34,265,000 after acquiring an additional 948,015 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, insider Dianne B. Ralston sold 18,617 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.50, for a total transaction of $921,541.50. Following the sale, the insider owned 224,097 shares of the company’s stock, valued at $11,092,801.50. The trade was a 7.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephane Biguet sold 61,017 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $3,032,544.90. Following the sale, the chief financial officer directly owned 155,548 shares in the company, valued at approximately $7,730,735.60. The trade was a 28.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 156,902 shares of company stock valued at $7,796,666 over the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of recent research reports. Loop Capital set a $48.00 target price on shares of SLB in a report on Tuesday, January 27th. Argus raised SLB to a “strong-buy” rating in a report on Monday, January 26th. Morgan Stanley lifted their price target on SLB from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Freedom Capital cut SLB from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Finally, Evercore set a $54.00 price target on SLB and gave the company an “outperform” rating in a report on Tuesday, January 6th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SLB has an average rating of “Moderate Buy” and an average price target of $54.27.

SLB Stock Performance

SLB opened at $54.37 on Thursday. The business’s 50 day moving average is $50.07 and its 200-day moving average is $43.43. The stock has a market cap of $81.69 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 3.62 and a beta of 0.69. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. SLB Limited has a twelve month low of $31.64 and a twelve month high of $54.85.

SLB (NYSE:SLB) last released its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $9.75 billion for the quarter, compared to analysts’ expectations of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. On average, analysts predict that SLB Limited will post 2.67 earnings per share for the current year.

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.