Lansforsakringar Fondforvaltning AB publ Sells 134,524 Shares of SLB Limited $SLB

Key Points

• Lansforsakringar Fondforvaltning AB publ cut its SLB stake by 22.3% in the first quarter, selling 134,524 shares and leaving it with 468,223 shares valued at about $24.1 million.
• SLB reported Q1 earnings of $0.52 per share, slightly ahead of estimates, while revenue came in at $8.72 billion, just below expectations but up 2.7% from a year ago.
• The company announced a quarterly dividend of $0.295 per share and continues to draw analyst support, with Wall Street assigning a Moderate Buy consensus and a target price of $60.83.

Lansforsakringar Fondforvaltning AB publ lowered its holdings in shares of SLB Limited (NYSE:SLB - Free Report) by 22.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 468,223 shares of the oil and gas company's stock after selling 134,524 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in SLB were worth $24,062,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of SLB during the fourth quarter valued at about $809,557,000. Bank of New York Mellon Corp boosted its holdings in SLB by 64.4% during the 4th quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company's stock valued at $602,444,000 after acquiring an additional 6,149,511 shares during the period. Wellington Management Group LLP boosted its holdings 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 valued at $638,473,000 after acquiring an additional 5,589,585 shares during the period. State Street Corp grew its position in SLB by 7.0% during the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company's stock worth $2,898,037,000 after acquiring an additional 5,466,786 shares during the last quarter. Finally, Capital International Investors increased its stake in SLB by 86.9% in the 4th 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 during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Price Performance

Shares of SLB stock opened at $46.44 on Wednesday. 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 company has a market cap of $69.44 billion, a PE ratio of 20.28, a P/E/G ratio of 1.86 and a beta of 0.70. The business has a 50 day moving average of $53.99 and a 200 day moving average of $49.56. 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 released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to analysts' expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. As a group, equities research analysts forecast that SLB Limited will post 2.62 earnings per share for the current year.

SLB Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on SLB. JPMorgan Chase & Co. boosted their price objective on SLB from $54.00 to $61.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Susquehanna lifted their target price on shares of SLB from $60.00 to $65.00 and gave the stock a "positive" rating in a research note on Monday, April 27th. Morgan Stanley set a $57.00 price target on shares of SLB in a report on Monday, April 27th. Piper Sandler raised their price target on shares of SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Finally, TD Cowen boosted their price objective on shares of SLB from $55.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.83.

Key Headlines Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB won a seven-year contract from Kuwait Oil Company under the Ahmadi Innovation Valley initiative, supporting applied research, technology deployment, and digital innovation. This could strengthen long-term revenue visibility and highlights demand for SLB’s energy technology offerings. SLB Awarded Seven-Year Contract Under Kuwait Oil Company's Ahmadi Innovation Valley Initiative
• Positive Sentiment: SLB is also expanding its footprint in Louisiana, with Industrial Realty Group saying the company will occupy more space at its Shreveport campus. While this is not as material as the Kuwait deal, it suggests continued operational expansion and ongoing investment in capacity. IRG Expands Long-Term Lease with SLB in Shreveport, LA, 3.5 Million Sq. Ft. Former GM Facility Now Fully Leased
• Positive Sentiment: Several commentary pieces argue that SLB may be oversold after a sharp recent pullback, and that improving analyst earnings estimates could support a rebound. This may help explain why some investors are starting to view the weakness as a potential buying opportunity. Down 15.3% in 4 Weeks, Here's Why You Should You Buy the Dip in SLB (SLB)
• Neutral Sentiment: Market-watchers also compared SLB with Enpro (NPO) as a value stock. This is more of a valuation discussion than a direct business catalyst, so it is likely limited in near-term stock impact. SLB vs. NPO: Which Stock Is the Better Value Option?
• Negative Sentiment: Despite the positive contract news, SLB has been trading lower over the past several weeks, reflecting recent selling pressure and concern about near-term momentum. That weakness may be capping enthusiasm even as investors wait to see whether new contract wins translate into stronger earnings. SLB (SLB) Stock Sinks As Market Gains: Here's Why

Insider Activity

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the sale, the director directly 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 transaction 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 company's 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 transaction, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by insiders.

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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