First Nebraska Trust Co Acquires New Position in SLB Limited $SLB

Key Points

• First Nebraska Trust Co. acquired 104,857 SLB shares worth approximately $5.39 million, while institutional investors and hedge funds collectively own 81.99% of the company.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $61.35, above SLB’s reported opening price of $49.58.
• SLB exceeded quarterly expectations, reporting $0.55 in earnings per share and $8.97 billion in revenue, and announced a quarterly dividend of $0.295 per share, representing a 2.4% annualized yield.

First Nebraska Trust Co acquired a new position in shares of SLB Limited (NYSE:SLB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 104,857 shares of the oil and gas company's stock, valued at approximately $5,389,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of SLB by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company's stock worth $7,156,177,000 after acquiring an additional 1,080,999 shares in the last quarter. State Street Corp increased its stake in SLB by 1.0% in the 4th quarter. State Street Corp now owns 84,417,217 shares of the oil and gas company's stock valued at $3,263,998,000 after purchasing an additional 799,218 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in SLB by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 54,006,438 shares of the oil and gas company's stock valued at $2,072,844,000 after purchasing an additional 1,458,650 shares in the last quarter. Morgan Stanley raised its holdings in SLB by 1.3% during the fourth quarter. Morgan Stanley now owns 37,095,243 shares of the oil and gas company's stock worth $1,423,716,000 after purchasing an additional 482,533 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings 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. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on SLB. Weiss Ratings lowered SLB from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on SLB from $54.00 to $61.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. Citigroup decreased their price objective on shares of SLB from $68.00 to $63.00 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Wolfe Research started coverage on shares of SLB in a research note on Wednesday, July 8th. They issued an "outperform" rating and a $62.00 price objective on the stock. Finally, Stifel Nicolaus raised their target price on shares of SLB from $61.00 to $64.00 and gave the company a "buy" rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.35.

Insider Buying and Selling

In related 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 value of $108,660.00. Following the completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company's stock.

SLB Price Performance

Shares of NYSE:SLB opened at $49.58 on Friday. The business's fifty day moving average price is $50.43 and its two-hundred day moving average price is $50.76. The stock has a market cap of $73.59 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 3.28 and a beta of 0.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. SLB Limited has a one year low of $31.64 and a one year high of $58.82.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The company had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter last year, the business posted $0.74 earnings per share. SLB's revenue was up 5.0% compared to the same quarter last year. On average, analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, September 2nd. SLB's dividend payout ratio (DPR) is currently 57.00%.

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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