Fideuram Asset Management Ireland dac Makes New $1.21 Million Investment in SLB Limited $SLB

Fideuram Asset Management Ireland dac purchased a new position in shares of SLB Limited (NYSE:SLB) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 30,220 shares of the oil and gas company’s stock, valued at approximately $1,213,000.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of SLB by 9.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,677,257 shares of the oil and gas company’s stock worth $57,647,000 after purchasing an additional 147,175 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of SLB by 3.0% during the 3rd quarter. New York State Common Retirement Fund now owns 1,879,137 shares of the oil and gas company’s stock worth $64,586,000 after purchasing an additional 54,600 shares in the last quarter. National Pension Service boosted its position in shares of SLB by 3.7% during the 3rd quarter. National Pension Service now owns 1,973,518 shares of the oil and gas company’s stock worth $67,830,000 after purchasing an additional 69,826 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of SLB by 7.9% during the 3rd quarter. State of Michigan Retirement System now owns 461,838 shares of the oil and gas company’s stock worth $15,873,000 after purchasing an additional 33,700 shares in the last quarter. Finally, Tejara Capital Ltd boosted its position in shares of SLB by 400.9% during the 3rd quarter. Tejara Capital Ltd now owns 138,759 shares of the oil and gas company’s stock worth $4,769,000 after purchasing an additional 111,059 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

SLB Price Performance

SLB stock opened at $54.44 on Friday. The firm’s 50-day moving average price is $53.52 and its two-hundred day moving average price is $47.12. SLB Limited has a 12-month low of $31.64 and a 12-month high of $58.82. The stock has a market capitalization of $81.39 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 2.23 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 released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating 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 company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that SLB Limited will post 2.62 earnings per share for the current year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB’s dividend payout ratio is 51.53%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Stifel Nicolaus increased their price objective on shares of SLB from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price objective on shares of SLB in a research note on Sunday, April 26th. Citigroup raised their price target on shares of SLB from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Evercore restated an “outperform” rating and set a $64.00 price target on shares of SLB in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average price target of $59.74.

SLB 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.