Capital Research Global Investors lifted its stake in shares of SLB Limited (NYSE:SLB – Free Report) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,539,972 shares of the oil and gas company’s stock after purchasing an additional 1,508,712 shares during the quarter. Capital Research Global Investors’ holdings in SLB were worth $404,524,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital International Sarl raised its stake in shares of SLB by 8.3% during the fourth quarter. Capital International Sarl now owns 205,184 shares of the oil and gas company’s stock valued at $7,875,000 after purchasing an additional 15,639 shares in the last quarter. Capital International Ltd. CA raised its stake in shares of SLB by 3.8% during the fourth quarter. Capital International Ltd. CA now owns 123,445 shares of the oil and gas company’s stock valued at $4,738,000 after purchasing an additional 4,497 shares in the last quarter. Capital International Inc. CA raised its stake in shares of SLB by 2.1% during the fourth quarter. Capital International Inc. CA now owns 174,600 shares of the oil and gas company’s stock valued at $6,701,000 after purchasing an additional 3,522 shares in the last quarter. Capital International Investors raised its stake in shares of SLB by 86.9% during the fourth quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock valued at $446,247,000 after purchasing an additional 5,404,948 shares in the last quarter. Finally, Havemeyer Place LP bought a new stake in shares of SLB during the fourth quarter valued at about $3,701,000. 81.99% of the stock is currently owned by institutional investors.
SLB Trading Down 0.2%
Shares of SLB opened at $54.79 on Monday. The business’s 50-day moving average price is $54.22 and its 200 day moving average price is $47.89. The stock has a market capitalization of $81.91 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.22 and a beta of 0.70. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.
SLB Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB’s dividend payout ratio (DPR) is currently 51.53%.
Insider Transactions at SLB
In related news, EVP Steve Matthew Gassen sold 53,379 shares of SLB stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of SLB 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 completion of the transaction, the director directly owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.16% of the company’s stock.
Wall Street Analysts Forecast Growth
SLB has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $65.00 price objective on shares of SLB in a research note on Sunday, April 26th. JPMorgan Chase & Co. lifted their price objective on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Sanford C. Bernstein boosted their price target on shares of SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Evercore reiterated an “outperform” rating and issued a $64.00 price target on shares of SLB in a research report on Monday, April 27th. Finally, Piper Sandler boosted their price target 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. Three 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 given a Sell rating to the stock. According to MarketBeat.com, SLB has a consensus rating of “Moderate Buy” and an average target price of $60.67.
Check Out Our Latest Stock Report on SLB
SLB Company 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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