697,752 Shares in SLB Limited $SLB Bought by ANTIPODES PARTNERS Ltd

Key Points

• ANTIPODES PARTNERS Ltd opened a new position in SLB during the fourth quarter, buying 697,752 shares valued at about $26.8 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 81.99% of SLB’s stock. Several funds increased their stakes, while some insiders also sold shares.
• SLB reported Q1 earnings of $0.52 per share, edging past estimates, and the company announced a quarterly dividend of $0.295 per share, implying a 2.1% annualized yield.

ANTIPODES PARTNERS Ltd acquired a new position in SLB Limited (NYSE:SLB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 697,752 shares of the oil and gas company's stock, valued at approximately $26,782,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Americana Partners LLC lifted its position in SLB by 10.1% in the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company's stock valued at $8,526,000 after acquiring an additional 22,706 shares in the last quarter. Principal Financial Group Inc. lifted its position in SLB by 9.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,677,257 shares of the oil and gas company's stock valued at $57,647,000 after acquiring an additional 147,175 shares in the last quarter. Evergreen Capital Management LLC lifted its position in SLB by 512.6% in the 3rd quarter. Evergreen Capital Management LLC now owns 610,611 shares of the oil and gas company's stock valued at $21,157,000 after acquiring an additional 510,929 shares in the last quarter. Meritage Portfolio Management bought a new position in SLB in the 3rd quarter valued at about $2,530,000. Finally, National Pension Service lifted its position in SLB by 3.7% in the 3rd quarter. National Pension Service now owns 1,973,518 shares of the oil and gas company's stock valued at $67,830,000 after acquiring an additional 69,826 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Transactions at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the sale, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the sale, the director owned 16,953 shares in the company, valued at approximately $921,056.49. The trade was a 10.55% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Evercore reaffirmed an "outperform" rating and issued a $64.00 price target on shares of SLB in a research report on Monday, April 27th. TD Cowen increased their price objective on shares of SLB from $55.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Piper Sandler increased their price objective on shares of SLB from $53.00 to $59.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Citigroup raised 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. Finally, Freedom Capital lowered shares of SLB from a "hold" rating to a "strong sell" rating in a research note on Tuesday, January 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.74.

SLB Stock Performance

NYSE SLB opened at $55.33 on Friday. The company has a 50-day simple moving average of $51.44 and a two-hundred day simple moving average of $45.70. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. SLB Limited has a 12-month low of $31.64 and a 12-month high of $57.20. The firm has a market cap of $82.72 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 3.92 and a beta of 0.72.

SLB (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The business 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 company's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. On average, equities analysts forecast that SLB Limited will post 2.61 EPS for the current year.

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio is 51.53%.

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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