Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Holdings in SLB Limited $SLB

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in SLB Limited (NYSE:SLB - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,141,868 shares of the oil and gas company's stock after buying an additional 128,660 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.21% of SLB worth $126,303,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new position in SLB during the 3rd quarter valued at $29,000. Strengthening Families & Communities LLC purchased a new position in SLB during the 3rd quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in SLB during the 4th quarter valued at $31,000. Steph & Co. increased its position in SLB by 97.5% during the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 394 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new position in SLB during the 4th quarter valued at $34,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of SLB from $59.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Susquehanna upped their target price on shares of SLB from $60.00 to $65.00 and gave the stock a "positive" rating in a research report on Monday, April 27th. TD Cowen upped their target price on shares of SLB from $55.00 to $66.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Piper Sandler upped their target price on shares of SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $65.00 target price on shares of SLB in a research report on Sunday, April 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $58.95.

SLB Stock Performance

Shares of SLB stock opened at $55.24 on Thursday. The stock has a market cap of $82.59 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 3.95 and a beta of 0.72. The firm's 50-day moving average is $50.85 and its 200 day moving average is $44.77. SLB Limited has a 1 year low of $31.64 and a 1 year high of $57.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.

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 analysts' consensus estimates of $0.51 by $0.01. The company 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%. SLB's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 EPS. Sell-side analysts anticipate that SLB Limited will post 2.6 EPS for the current fiscal year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.1%. SLB's dividend payout ratio is currently 51.53%.

About SLB

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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