Alberta Investment Management Corp Acquires 801,800 Shares of SLB Limited $SLB

Key Points

• Alberta Investment Management Corp boosted its SLB stake by 826.6% in the fourth quarter, buying 801,800 additional shares and ending with 898,800 shares valued at about $34.5 million.
• SLB reported quarterly EPS of $0.52, slightly ahead of analyst estimates, while revenue came in at $8.72 billion, just below expectations but still up 2.7% year over year.
• The company declared a quarterly dividend of $0.295 per share, equal to an annualized yield of about 2.2%, and analysts currently rate the stock a Moderate Buy with an average price target of $60.67.

Alberta Investment Management Corp increased its holdings in SLB Limited (NYSE:SLB - Free Report) by 826.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 898,800 shares of the oil and gas company's stock after purchasing an additional 801,800 shares during the quarter. Alberta Investment Management Corp owned approximately 0.06% of SLB worth $34,496,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SLB. Strategic Wealth Advisors LLC bought a new stake in shares of SLB in the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in SLB during the fourth quarter valued at $31,000. Steph & Co. boosted its position in SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 394 shares during the last quarter. Lloyd Advisory Services LLC. bought a new stake in SLB during the fourth quarter valued at $31,000. Finally, Bruce G. Allen Investments LLC boosted its position in SLB by 37.0% during the fourth quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 227 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

SLB Stock Performance

Shares of SLB stock opened at $53.60 on Tuesday. The firm has a market capitalization of $80.13 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 2.28 and a beta of 0.70. The firm has a fifty day simple moving average of $54.72 and a two-hundred day simple moving average of $48.72. 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 Limited has a 12 month low of $31.64 and a 12 month high of $58.82.

SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating analysts' consensus estimates 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%. During the same quarter in the previous year, the business posted $0.72 EPS. SLB's quarterly revenue was up 2.7% on a year-over-year basis. Analysts forecast that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors 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 dividend yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio is currently 51.53%.

Insider Transactions at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director owned 16,953 shares in the company, valued at $921,056.49. This represents a 10.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the completion of the sale, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on SLB. Morgan Stanley set a $57.00 price target on shares of SLB in a research report on Monday, April 27th. Piper Sandler upped their price target on shares of SLB from $53.00 to $59.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. Barclays upped their price target on shares of SLB from $49.00 to $51.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. UBS Group upped their price target on shares of SLB from $61.00 to $69.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, BMO Capital Markets increased their price objective on shares of SLB from $55.00 to $63.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. Three 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $60.67.

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.

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