Murphy Pohlad Asset Management LLC grew its position in SLB Limited (NYSE:SLB – Free Report) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,799 shares of the oil and gas company’s stock after buying an additional 12,320 shares during the quarter. SLB accounts for approximately 1.8% of Murphy Pohlad Asset Management LLC’s holdings, making the stock its 16th biggest holding. Murphy Pohlad Asset Management LLC’s holdings in SLB were worth $4,790,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Root Financial Partners LLC purchased a new position in shares of SLB in the third quarter valued at $29,000. Strategic Wealth Advisors LLC acquired a new stake in SLB in the 4th quarter worth about $30,000. Strengthening Families & Communities LLC acquired a new stake in SLB in the 3rd quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in SLB in the 4th quarter worth about $31,000. Finally, Steph & Co. boosted its stake in SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after buying an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.
Insider Activity
In related news, EVP Steve Matthew Gassen sold 53,379 shares of the firm’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 directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were 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 approximately $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. Company insiders own 0.16% of the company’s stock.
SLB Stock Performance
SLB (NYSE:SLB – Get Free Report) last released its quarterly earnings data 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. The business 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 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 EPS. Equities analysts predict that SLB Limited will post 2.61 EPS for the current 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 dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is presently 51.53%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on SLB. Piper Sandler raised their price target on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Loop Capital set a $48.00 price target on SLB in a research note on Tuesday, January 27th. Jefferies Financial Group reissued a “buy” rating and issued a $65.00 price target on shares of SLB in a research note on Sunday, April 26th. Sanford C. Bernstein lifted their price objective on SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Susquehanna lifted their price objective on SLB from $60.00 to $65.00 and gave the company a “positive” rating in a research note on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.74.
Check Out Our Latest Research Report on SLB
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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