Factory Mutual Insurance Co. Acquires New Holdings in SLB Limited $SLB

Factory Mutual Insurance Co. acquired a new position in shares of SLB Limited (NYSE:SLB) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 799,697 shares of the oil and gas company’s stock, valued at approximately $38,961,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its position in SLB by 0.8% in the second quarter. State Street Corp now owns 91,222,641 shares of the oil and gas company’s stock valued at $4,267,269,000 after purchasing an additional 722,060 shares during the period. First Eagle Investment Management LLC lifted its stake in SLB by 1.9% during the second quarter. First Eagle Investment Management LLC now owns 28,913,733 shares of the oil and gas company’s stock worth $1,344,199,000 after purchasing an additional 537,566 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in SLB during the second quarter worth $1,339,567,000. Amundi boosted its position in shares of SLB by 15.8% during the second quarter. Amundi now owns 19,815,245 shares of the oil and gas company’s stock worth $921,211,000 after buying an additional 2,698,766 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of SLB by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 15,901,998 shares of the oil and gas company’s stock worth $817,246,000 after buying an additional 169,468 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Stock Performance

NYSE:SLB opened at $52.11 on Wednesday. The firm has a market capitalization of $76.91 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 2.90 and a beta of 0.80. The business’s fifty day moving average price is $52.43 and its 200 day moving average price is $51.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.02. SLB Limited has a 12 month low of $34.65 and a 12 month high of $60.46.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.27 billion. SLB had a return on equity of 13.77% and a net margin of 8.40%. SLB’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.69 earnings per share. On average, sell-side analysts anticipate that SLB Limited will post 2.46 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 2nd will be issued a $0.2950 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. SLB’s dividend payout ratio is presently 57.28%.

Insider Transactions at SLB

In related news, CAO Howard Guild sold 10,047 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $53.65, for a total transaction of $539,021.55. Following the completion of the sale, the chief accounting officer owned 12,845 shares in the company, valued at $689,134.25. The trade was a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dianne B. Ralston sold 20,986 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $53.57, for a total value of $1,124,220.02. Following the sale, the insider owned 205,053 shares of the company’s stock, valued at approximately $10,984,689.21. The trade was a 9.28% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research reports. Capital One Financial dropped their price objective on SLB from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Tuesday, August 18th. Freedom Broker raised SLB from a “sell” rating to a “hold” rating and set a $48.00 target price on the stock in a research note on Monday, October 26th. UBS Group lowered their target price on SLB from $75.00 to $70.00 and set a “buy” rating for the company in a report on Monday, October 26th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (down from $63.00) on shares of SLB in a research report on Tuesday, September 1st. Finally, Barclays cut their target price on shares of SLB from $66.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. Twenty-four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.52.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.