Boston Partners lessened its stake in shares of SLB Limited (NYSE:SLB – Free Report) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,400,146 shares of the oil and gas company’s stock after selling 389,489 shares during the quarter. Boston Partners’ holdings in SLB were worth $324,482,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. SIR Capital Management L.P. acquired a new position in SLB in the 4th quarter valued at $10,355,000. Storgate LLC acquired a new position in SLB in the 4th quarter valued at $612,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of SLB by 104.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,654 shares of the oil and gas company’s stock worth $1,061,000 after purchasing an additional 14,107 shares in the last quarter. Banco Santander S.A. boosted its position in shares of SLB by 55.1% during the 4th quarter. Banco Santander S.A. now owns 409,221 shares of the oil and gas company’s stock worth $15,706,000 after purchasing an additional 145,294 shares in the last quarter. Finally, Gator Capital Management LLC purchased a new stake in shares of SLB during the 4th quarter worth $2,204,000. 81.99% of the stock is owned by institutional investors and hedge funds.
SLB Stock Up 0.0%
SLB opened at $56.03 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. SLB Limited has a 1 year low of $31.64 and a 1 year high of $58.82. The firm has a 50 day moving average price of $54.64 and a 200 day moving average price of $48.51. The company has a market cap of $83.76 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 2.27 and a beta of 0.70.
SLB Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.
Insiders Place Their Bets
In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director 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. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm’s 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 owned 47,421 shares in the company, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.16% of the company’s stock.
Analyst Ratings Changes
SLB has been the topic of several research analyst reports. Piper Sandler boosted their target price 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. Evercore restated an “outperform” rating and set a $64.00 target price on shares of SLB in a research report on Monday, April 27th. UBS Group boosted their target price on shares of SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Susquehanna increased their price objective on shares of SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research note on Monday, April 27th. Finally, Barclays increased their price objective on shares of SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.67.
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.
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