J. Safra Sarasin Holding AG Raises Stock Position in SLB Limited $SLB

Key Points

• J. Safra Sarasin Holding AG increased its stake in SLB by 203.9% in the first quarter, ending with 46,452 shares worth about $2.39 million.
• Several other large institutions also boosted holdings in SLB, and institutional investors now own 81.99% of the company’s stock.
• SLB reported quarterly EPS of $0.52, slightly ahead of estimates, and recently paid a $0.295 quarterly dividend that annualizes to a 2.5% yield.

J. Safra Sarasin Holding AG raised its stake in shares of SLB Limited (NYSE:SLB - Free Report) by 203.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,452 shares of the oil and gas company's stock after buying an additional 31,166 shares during the period. J. Safra Sarasin Holding AG's holdings in SLB were worth $2,387,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of SLB in the 4th quarter worth approximately $809,557,000. Bank of New York Mellon Corp increased its holdings in SLB by 64.4% in the 4th quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company's stock worth $602,444,000 after acquiring an additional 6,149,511 shares in the last quarter. Wellington Management Group LLP raised its stake in SLB by 50.6% during the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company's stock worth $638,473,000 after acquiring an additional 5,589,585 shares during the period. State Street Corp lifted its holdings 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 valued at $2,898,037,000 after purchasing an additional 5,466,786 shares in the last quarter. Finally, Capital International Investors increased its stake in shares of SLB by 86.9% in the fourth quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company's stock worth $446,247,000 after purchasing an additional 5,404,948 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Insider Transactions at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 16,953 shares of the company's stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. 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 business's stock in a transaction that occurred on Friday, May 1st. The shares were 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 owned 47,421 shares of the company's stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by corporate insiders.

SLB Stock Performance

Shares of SLB stock opened at $47.38 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The stock's fifty day moving average is $52.46 and its two-hundred day moving average is $50.05. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a market capitalization of $70.83 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 1.94 and a beta of 0.72.

SLB (NYSE:SLB - Get Free Report) last released its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. As a group, analysts expect that SLB Limited will post 2.59 earnings per share for the current year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd were paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, June 3rd. SLB's dividend payout ratio is currently 51.53%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Susquehanna dropped their target price on shares of SLB from $65.00 to $55.00 and set a "positive" rating for the company in a report on Wednesday, July 8th. Raymond James Financial decreased their price target on shares of SLB from $62.00 to $61.00 and set an "outperform" rating on the stock in a research note on Friday. Jefferies Financial Group reiterated a "buy" rating and issued a $65.00 target price on shares of SLB in a report on Sunday, April 26th. Wolfe Research started coverage on shares of SLB in a report on Wednesday, July 8th. They issued an "outperform" rating and a $62.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of SLB from $54.00 to $61.00 and gave the company an "overweight" rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, SLB presently has an average rating of "Moderate Buy" and a consensus price target of $59.80.

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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