BI Asset Management Fondsmaeglerselskab A S Purchases 105,817 Shares of SLB Limited $SLB

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of SLB Limited (NYSE:SLB - Free Report) by 184.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 163,251 shares of the oil and gas company's stock after purchasing an additional 105,817 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in SLB were worth $6,266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of SLB. Strategic Wealth Advisors LLC bought a new stake in SLB during the 4th quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SLB in the fourth quarter worth $31,000. Steph & Co. grew its position in shares of SLB by 97.5% in the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 394 shares in the last quarter. Lloyd Advisory Services LLC. bought a new stake in shares of SLB during the 4th quarter valued at $31,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in SLB by 37.0% during the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Trading Down 0.2%

Shares of SLB opened at $54.79 on Monday. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The company has a market capitalization of $81.91 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.22 and a beta of 0.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The firm's 50 day simple moving average is $54.22 and its 200 day simple moving average is $47.89.

SLB (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 EPS. Sell-side analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a $0.295 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB's payout ratio is presently 51.53%.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director owned 16,953 shares in the company, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $2,998,832.22. Following the sale, the executive vice president owned 47,421 shares of the company's stock, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent analyst reports. Piper Sandler lifted their target price on SLB from $53.00 to $59.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Morgan Stanley set a $57.00 price objective on shares of SLB in a research report on Monday, April 27th. Sanford C. Bernstein upped their target price on shares of SLB from $56.10 to $71.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Jefferies Financial Group reiterated a "buy" rating and issued a $65.00 target price on shares of SLB in a research note on Sunday, April 26th. Finally, Barclays raised their price target on shares of SLB from $49.00 to $51.00 and gave the company an "overweight" rating in a report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.67.

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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