First Nebraska Trust Co Purchases Shares of 104,857 SLB Limited $SLB

First Nebraska Trust Co purchased a new position in shares of SLB Limited (NYSE:SLB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 104,857 shares of the oil and gas company’s stock, valued at approximately $5,389,000.

Other hedge funds have also made changes to their positions in the company. Fearnley Asset Management AS purchased a new stake in SLB in the fourth quarter valued at approximately $8,574,000. Vaughan Nelson Investment Management L.P. acquired a new position in SLB during the first quarter worth approximately $47,528,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in SLB by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock worth $126,303,000 after purchasing an additional 128,660 shares during the period. Cibc World Market Inc. raised its stake in SLB by 48.7% during the fourth quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock worth $52,468,000 after purchasing an additional 447,667 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of SLB by 65.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock valued at $7,898,000 after purchasing an additional 81,045 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

SLB Price Performance

SLB opened at $49.58 on Friday. SLB Limited has a 52-week low of $31.64 and a 52-week high of $58.82. The company has a 50 day moving average of $50.43 and a two-hundred day moving average of $50.76. The company has a market cap of $73.59 billion, a P/E ratio of 23.95, a P/E/G ratio of 3.28 and a beta of 0.72. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB) last issued its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 EPS. On average, analysts expect that SLB Limited will post 2.5 earnings per share for the current year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 2nd. SLB’s dividend payout ratio is currently 57.00%.

Insider Buying and Selling

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the firm’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 transaction, the director directly owned 16,953 shares of the company’s stock, valued at $921,056.49. This trade represents 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 hyperlink. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SLB has been the subject of several research reports. Wolfe Research initiated coverage on shares of SLB in a research note on Wednesday, July 8th. They set an “outperform” rating and a $62.00 price objective for the company. Evercore reaffirmed an “outperform” rating and issued a $66.00 target price on shares of SLB in a research report on Monday, July 27th. Weiss Ratings cut SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. upped their price target on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.35.

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.