Franklin Resources Inc. raised its holdings in SLB Limited (NYSE:SLB – Free Report) by 23.0% in the fourth quarter, Holdings Channel reports. The fund owned 20,949,940 shares of the oil and gas company’s stock after acquiring an additional 3,913,048 shares during the period. Franklin Resources Inc.’s holdings in SLB were worth $804,059,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in SLB by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company’s stock valued at $7,156,177,000 after acquiring an additional 1,080,999 shares during the period. State Street Corp grew its stake in SLB by 7.0% in the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after acquiring an additional 5,466,786 shares during the period. Geode Capital Management LLC grew its stake in SLB by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company’s stock valued at $1,292,993,000 after acquiring an additional 510,747 shares during the period. First Eagle Investment Management LLC grew its stake in SLB by 0.6% in the fourth quarter. First Eagle Investment Management LLC now owns 27,718,458 shares of the oil and gas company’s stock valued at $1,063,834,000 after acquiring an additional 174,564 shares during the period. Finally, Norges Bank acquired a new position in SLB in the fourth quarter valued at about $809,557,000. 81.99% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the sale, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Stock Report on SLB
SLB Stock Performance
Shares of SLB stock opened at $54.79 on Monday. The firm has a market cap of $81.91 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 2.22 and a beta of 0.70. The stock’s 50-day moving average is $54.22 and its 200-day moving average is $47.89. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.
SLB (NYSE:SLB – Get Free Report) last issued its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. Equities analysts predict that SLB Limited will post 2.62 earnings per share for the current fiscal year.
SLB Announces Dividend
The business also recently announced 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. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is presently 51.53%.
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.
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