Bank of New York Mellon Corp boosted its stake in shares of SLB Limited (NYSE:SLB – Free Report) by 64.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,696,831 shares of the oil and gas company’s stock after buying an additional 6,149,511 shares during the quarter. Bank of New York Mellon Corp’s holdings in SLB were worth $602,444,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ballentine Partners LLC grew its position in SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock worth $395,000 after buying an additional 218 shares during the period. Bruce G. Allen Investments LLC grew its position in SLB by 37.0% during the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after buying an additional 227 shares during the period. Rothschild Investment LLC grew its position in SLB by 4.4% during the fourth quarter. Rothschild Investment LLC now owns 5,540 shares of the oil and gas company’s stock worth $213,000 after buying an additional 236 shares during the period. Foster Victor Wealth Advisors LLC grew its position in SLB by 3.0% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 8,281 shares of the oil and gas company’s stock worth $318,000 after buying an additional 238 shares during the period. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in shares of SLB by 10.0% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,641 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 240 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, Director La Chevardiere Patrick De sold 2,000 shares of SLB 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 completion of the transaction, the director directly owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. The trade was a 10.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the transaction, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. This trade represents a 52.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company’s stock.
SLB Price Performance
SLB (NYSE:SLB – Get Free Report) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. As a group, research analysts anticipate that SLB Limited will post 2.62 earnings per share for the current fiscal year.
SLB Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis 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%.
Analyst Upgrades and Downgrades
SLB has been the topic of several recent research reports. Stifel Nicolaus upped their price target on shares of SLB from $56.00 to $61.00 and gave the company a “buy” rating in a report on Monday, April 27th. Citigroup increased 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. Jefferies Financial Group reaffirmed a “buy” rating and set a $65.00 price target on shares of SLB in a research note on Sunday, April 26th. 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. Finally, UBS Group increased their price objective 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. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.74.
Get Our Latest Stock Analysis on SLB
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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