Fearnley Asset Management AS Acquires Shares of 223,400 SLB Limited $SLB

Key Points

• Fearnley Asset Management AS initiated a new position in SLB, buying 223,400 shares worth about $8.57 million in the fourth quarter. The stake represents 3.9% of its portfolio and makes SLB its 11th-largest holding.
• SLB continues to draw significant institutional interest, with several firms increasing their holdings; overall, 81.99% of the stock is owned by institutions.
• SLB reported quarterly EPS of $0.52, slightly ahead of expectations, and announced a quarterly dividend of $0.295 per share to be paid July 9, implying a 2.5% yield. Analysts currently have a consensus rating of Moderate Buy with an average price target of $60.83.

Fearnley Asset Management AS bought a new position in shares of SLB Limited (NYSE:SLB - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 223,400 shares of the oil and gas company's stock, valued at approximately $8,574,000. SLB accounts for 3.9% of Fearnley Asset Management AS's investment portfolio, making the stock its 11th largest position.

Other large investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of SLB by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company's stock valued at $126,303,000 after purchasing an additional 128,660 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in SLB in the third quarter worth approximately $3,334,000. Cibc World Market Inc. grew its position in SLB by 48.7% in the 4th quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company's stock worth $52,468,000 after purchasing an additional 447,667 shares during the period. Oppenheimer & Co. Inc. raised its stake in SLB by 65.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company's stock valued at $7,898,000 after buying an additional 81,045 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of SLB by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 1,719,469 shares of the oil and gas company's stock valued at $65,993,000 after buying an additional 42,212 shares during the period. 81.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

SLB Price Performance

SLB stock opened at $48.12 on Friday. The stock has a market cap of $71.95 billion, a PE ratio of 21.01, a P/E/G ratio of 1.95 and a beta of 0.70. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a 50-day moving average price of $54.69 and a 200 day moving average price of $49.02. 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 (NYSE:SLB - Get Free Report) last posted its 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. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter last year, the firm posted $0.72 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts anticipate that SLB Limited will post 2.62 earnings per share for the current year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio (DPR) is currently 51.53%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of SLB from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Susquehanna upped their target price on shares of SLB from $60.00 to $65.00 and gave the company a "positive" rating in a report on Monday, April 27th. Morgan Stanley set a $57.00 price target on shares of SLB in a research report on Monday, April 27th. Weiss Ratings cut shares of SLB from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $61.00 price objective on shares of SLB in a research report on Tuesday. Three 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $60.83.

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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