Fideuram Asset Management Ireland dac Purchases New Holdings in SLB Limited $SLB

Key Points

• Fideuram Asset Management Ireland dac opened a new position in SLB during the fourth quarter, buying 30,220 shares valued at about $1.21 million.
• SLB reported first-quarter earnings of $0.52 per share, edging past expectations, while revenue came in at $8.72 billion, slightly below estimates but up 2.7% year over year.
• The company announced a quarterly dividend of $0.295 per share, payable July 9, and analysts remain generally positive with a Moderate Buy consensus and an average price target of $59.74.

Fideuram Asset Management Ireland dac purchased a new stake in SLB Limited (NYSE:SLB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 30,220 shares of the oil and gas company's stock, valued at approximately $1,213,000.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of SLB by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company's stock valued at $7,156,177,000 after buying an additional 1,080,999 shares during the period. State Street Corp lifted its stake in SLB by 7.0% during the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company's stock worth $2,898,037,000 after purchasing an additional 5,466,786 shares during the last quarter. Geode Capital Management LLC lifted its stake in SLB by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 33,840,883 shares of the oil and gas company's stock worth $1,292,993,000 after purchasing an additional 510,747 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in SLB by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 27,718,458 shares of the oil and gas company's stock worth $1,063,834,000 after purchasing an additional 174,564 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in SLB by 25.2% during the third quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company's stock worth $528,217,000 after purchasing an additional 3,094,764 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Down 1.2%

Shares of NYSE:SLB opened at $54.44 on Friday. The company has a fifty day moving average of $53.52 and a 200-day moving average of $47.12. The company has a market capitalization of $81.39 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. SLB Limited has a 52-week low of $31.64 and a 52-week 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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 earnings per share. On average, equities analysts predict that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently disclosed 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 yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio is presently 51.53%.

Insiders Place Their Bets

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction 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 sale, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the 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 completion of the sale, the director owned 16,953 shares of the company's stock, valued at $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Jefferies Financial Group restated a "buy" rating and set a $65.00 target price on shares of SLB in a research note on Sunday, April 26th. Piper Sandler upped their target price on SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Royal Bank Of Canada restated an "outperform" rating and set a $61.00 target price on shares of SLB in a research note on Monday, April 27th. TD Cowen upped their price target on shares of SLB from $55.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Finally, Susquehanna upped their price target on shares of SLB from $60.00 to $65.00 and gave the stock a "positive" rating in a report on Monday, April 27th. Three investment 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $59.74.

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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