Varma Mutual Pension Insurance Co Has $13.38 Million Stock Position in SLB Limited $SLB

Varma Mutual Pension Insurance Co boosted its position in SLB Limited (NYSE:SLB) by 8.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 389,252 shares of the oil and gas company’s stock after purchasing an additional 30,800 shares during the period. Varma Mutual Pension Insurance Co’s holdings in SLB were worth $13,379,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Eubel Brady & Suttman Asset Management Inc. raised its position in shares of SLB by 78.3% in the third quarter. Eubel Brady & Suttman Asset Management Inc. now owns 663,168 shares of the oil and gas company’s stock valued at $22,793,000 after purchasing an additional 291,210 shares during the period. Willis Johnson & Associates Inc. grew its stake in SLB by 60.4% in the 3rd quarter. Willis Johnson & Associates Inc. now owns 12,030 shares of the oil and gas company’s stock valued at $413,000 after buying an additional 4,529 shares during the last quarter. Skylands Capital LLC raised its holdings in SLB by 6.3% in the 3rd quarter. Skylands Capital LLC now owns 95,250 shares of the oil and gas company’s stock valued at $3,274,000 after acquiring an additional 5,650 shares during the period. Plan A Wealth LLC bought a new position in SLB in the 3rd quarter valued at about $200,000. Finally, Cibc World Market Inc. lifted its position in SLB by 12.8% during the third quarter. Cibc World Market Inc. now owns 919,396 shares of the oil and gas company’s stock worth $31,600,000 after acquiring an additional 104,176 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

NYSE SLB opened at $50.64 on Friday. The firm’s 50 day simple moving average is $43.98 and its 200 day simple moving average is $38.12. The firm has a market capitalization of $75.73 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 3.51 and a beta of 0.73. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. SLB Limited has a 1 year low of $31.11 and a 1 year high of $52.40.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. The business had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The company’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. As a group, research analysts expect that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.3%. This is a boost from SLB’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s payout ratio is 49.79%.

Insider Transactions at SLB

In related news, CFO Stephane Biguet sold 61,017 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the completion of the transaction, the chief financial officer directly owned 155,548 shares in the company, valued at $7,730,735.60. This represents a 28.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter John Coleman sold 5,500 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the transaction, the director directly owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. The trade was a 22.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 162,402 shares of company stock valued at $7,993,676. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of recent research reports. Citigroup increased their target price on SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. BMO Capital Markets lifted their target price on SLB from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Piper Sandler upped their price target on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. The Goldman Sachs Group reiterated a “buy” rating and issued a $49.00 price objective on shares of SLB in a research note on Wednesday, January 14th. Finally, Argus upgraded shares of SLB to a “strong-buy” rating in a research report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.38.

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.