Nordea Investment Management AB Buys 191,205 Shares of SLB Limited $SLB

Key Points

• Nordea Investment Management AB has increased its stake in SLB Limited by 10.2%, owning a total of 2,056,967 shares valued at approximately $70.2 million as of the end of the last quarter.
• SLB reported a quarterly EPS of $0.69, surpassing analysts' expectations of $0.67, despite experiencing a revenue decline of 2.5% year-over-year.
• The company declared a quarterly dividend of $0.285 per share, yielding an annualized dividend of 3.5%, with a payout ratio of 44.02%.

Nordea Investment Management AB increased its stake in SLB Limited (NYSE:SLB - Free Report) by 10.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,056,967 shares of the oil and gas company's stock after purchasing an additional 191,205 shares during the quarter. Nordea Investment Management AB owned approximately 0.15% of SLB worth $70,204,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SLB. First Command Advisory Services Inc. raised its holdings in SLB by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 477 shares during the period. Atticus Wealth Management LLC purchased a new stake in SLB in the 2nd quarter worth $29,000. Atlas Capital Advisors Inc. purchased a new stake in SLB in the 1st quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in SLB by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company's stock worth $33,000 after buying an additional 350 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new stake in SLB in the 1st quarter worth $34,000. 81.99% of the stock is owned by institutional investors.

SLB Trading Down 1.0%

Shares of SLB stock opened at $32.58 on Friday. The firm has a market cap of $48.66 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 9.11 and a beta of 0.97. The business has a 50-day moving average price of $34.49 and a 200-day moving average price of $34.53. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. SLB Limited has a twelve month low of $31.11 and a twelve month high of $44.97.

SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.02. SLB had a net margin of 11.53% and a return on equity of 20.99%. The firm had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter last year, the firm earned $0.89 EPS. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. SLB's dividend payout ratio (DPR) is presently 44.02%.

Insider Activity at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SLB. Zacks Research upgraded SLB from a "strong sell" rating to a "hold" rating in a research note on Monday, September 15th. Wells Fargo & Company lowered SLB from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Weiss Ratings reiterated a "hold (c-)" rating on shares of SLB in a research note on Wednesday, October 8th. Melius began coverage on SLB in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target for the company. Finally, Barclays cut their price target on SLB from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.00.

SLB Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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