KLP Kapitalforvaltning AS Decreases Holdings in SLB Limited $SLB

Key Points

• KLP Kapitalforvaltning AS reduced its stake in SLB by 8.1% during Q4, selling 58,200 shares and leaving it with 656,026 shares worth about $25.37 million.
• Notable insider selling has occurred recently—insiders sold 156,902 shares (≈$7.80 million) in the last 90 days, including EVP Abdellah Merad's sale of 60,000 shares and a director's sale of 4,000 shares.
• SLB beat Q4 estimates (EPS $0.78 vs. $0.74; revenue $9.75B vs. $9.54B), the stock is trading near its 1‑year high with a market cap of ~$81.7B, and analysts' consensus is a Moderate Buy with an average target of $54.27.

KLP Kapitalforvaltning AS lowered its stake in SLB Limited (NYSE:SLB - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 656,026 shares of the oil and gas company's stock after selling 58,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in SLB were worth $25,365,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Root Financial Partners LLC purchased a new stake in SLB in the 3rd quarter valued at approximately $29,000. Strengthening Families & Communities LLC purchased a new stake in SLB in the 3rd quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in SLB in the 4th quarter valued at approximately $31,000. Steph & Co. lifted its stake in SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock valued at $31,000 after buying an additional 394 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in SLB in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Stock Up 3.0%

Shares of SLB stock opened at $54.37 on Thursday. The business has a 50-day moving average of $50.07 and a 200-day moving average of $43.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. The company has a market capitalization of $81.69 billion, a PE ratio of 22.94, a P/E/G ratio of 3.62 and a beta of 0.69. SLB Limited has a 1-year low of $31.64 and a 1-year high of $54.85.

SLB (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company's revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $0.92 earnings per share. As a group, equities analysts forecast that SLB Limited will post 2.67 EPS for the current fiscal year.

Insider Buying and Selling at SLB

In other news, Director La Chevardiere Patrick De sold 4,000 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.29, for a total transaction of $201,160.00. Following the transaction, the director owned 19,525 shares of the company's stock, valued at approximately $981,912.25. This trade represents a 17.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the transaction, the executive vice president directly owned 140,602 shares in the company, valued at $6,987,919.40. The trade was a 29.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 156,902 shares of company stock valued at $7,796,666. Corporate insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

SLB has been the subject of several recent research reports. BMO Capital Markets increased their price target on SLB from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Monday, January 26th. JPMorgan Chase & Co. increased their price target on SLB from $43.00 to $54.00 and gave the company an "overweight" rating in a report on Monday, January 26th. Freedom Capital downgraded SLB from a "hold" rating to a "strong sell" rating in a report on Tuesday, January 27th. The Goldman Sachs Group raised their target price on SLB from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, March 4th. Finally, Morgan Stanley raised their target price on SLB from $50.00 to $55.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.27.

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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