Capital Research Global Investors Purchases 25,384 Shares of SLB Limited $SLB

Capital Research Global Investors increased its holdings in SLB Limited (NYSE:SLB) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,031,260 shares of the oil and gas company’s stock after acquiring an additional 25,384 shares during the period. Capital Research Global Investors owned about 0.60% of SLB worth $310,404,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC bought a new stake in shares of SLB in the second quarter valued at $25,000. Root Financial Partners LLC purchased a new stake in shares of SLB in the third quarter worth about $29,000. Corsicana & Co. bought a new position in SLB in the 3rd quarter valued at $31,000. Strengthening Families & Communities LLC bought a new stake in SLB during the third quarter valued at $31,000. Finally, SouthState Bank Corp boosted its stake in SLB by 57.4% during the third quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

Shares of SLB opened at $48.10 on Wednesday. SLB Limited has a one year low of $31.11 and a one year high of $52.45. The company has a 50-day simple moving average of $48.11 and a two-hundred day simple moving average of $40.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. The firm has a market capitalization of $72.27 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 3.21 and a beta of 0.68.

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

SLB Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. SLB’s payout ratio is currently 49.79%.

Insider Buying and Selling at SLB

In other news, CFO Stephane Biguet sold 61,017 shares of the company’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $3,032,544.90. Following the completion of the transaction, the chief financial officer owned 155,548 shares of the company’s stock, valued at $7,730,735.60. This represents a 28.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dianne B. Ralston sold 18,617 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.50, for a total transaction of $921,541.50. Following the transaction, the insider owned 224,097 shares of the company’s stock, valued at approximately $11,092,801.50. This represents a 7.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 156,902 shares of company stock valued at $7,796,666 in the last quarter. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SLB. Wall Street Zen upgraded SLB from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. UBS Group restated a “buy” rating on shares of SLB in a research report on Tuesday, January 27th. Piper Sandler boosted their price target on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Barclays raised their price objective on shares of SLB from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, January 26th. Finally, The Goldman Sachs Group increased their target price on SLB from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.96.

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.