North Dakota State Investment Board Purchases Shares of 51,444 SLB Limited $SLB

Key Points

• North Dakota State Investment Board bought a new stake in SLB in the fourth quarter, purchasing 51,444 shares valued at about $1.97 million. Institutional ownership remains high, with funds and hedge funds holding 81.99% of the stock.
• SLB reported mixed quarterly results, with EPS of $0.52 topping estimates by a penny, while revenue of $8.72 billion came in slightly below expectations. Revenue still rose 2.7% year over year, and analysts expect full-year EPS of 2.61.
• The company also declared a quarterly dividend of $0.295 per share, payable July 9, implying an annualized yield of 2.1%. Meanwhile, several analysts remain upbeat, with an average rating of “Moderate Buy” and a consensus price target of $59.74.

North Dakota State Investment Board purchased a new stake in SLB Limited (NYSE:SLB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 51,444 shares of the oil and gas company's stock, valued at approximately $1,974,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Americana Partners LLC increased its position in SLB by 10.1% in the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company's stock valued at $8,526,000 after acquiring an additional 22,706 shares during the period. Principal Financial Group Inc. lifted its position in shares of SLB by 9.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,677,257 shares of the oil and gas company's stock worth $57,647,000 after purchasing an additional 147,175 shares during the period. New York State Common Retirement Fund lifted its position in shares of SLB by 3.0% in the 3rd quarter. New York State Common Retirement Fund now owns 1,879,137 shares of the oil and gas company's stock worth $64,586,000 after purchasing an additional 54,600 shares during the period. National Pension Service lifted its position in shares of SLB by 3.7% in the 3rd quarter. National Pension Service now owns 1,973,518 shares of the oil and gas company's stock worth $67,830,000 after purchasing an additional 69,826 shares during the period. Finally, State of Michigan Retirement System lifted its position in shares of SLB by 7.9% in the 3rd quarter. State of Michigan Retirement System now owns 461,838 shares of the oil and gas company's stock worth $15,873,000 after purchasing an additional 33,700 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Up 3.3%

SLB stock opened at $57.22 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. SLB Limited has a 12-month low of $31.64 and a 12-month high of $57.59. The firm's fifty day moving average is $51.64 and its 200 day moving average is $45.92. The company has a market capitalization of $85.55 billion, a PE ratio of 24.99, a PEG ratio of 3.90 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the previous year, the company earned $0.72 EPS. SLB's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that SLB Limited will post 2.61 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. Investors of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB's payout ratio is presently 51.53%.

Insiders Place Their Bets

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the business's stock in a transaction on 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 $2,664,111.78. The trade was a 52.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business's stock in a transaction 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 owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SLB. Wall Street Zen downgraded shares of SLB from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Royal Bank Of Canada restated an "outperform" rating and issued a $61.00 price target on shares of SLB in a research report on Monday, April 27th. UBS Group boosted their price target on shares of SLB from $61.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Loop Capital set a $48.00 price target on shares of SLB in a research report on Tuesday, January 27th. Finally, Sanford C. Bernstein boosted their price target on shares of SLB from $56.10 to $71.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $59.74.

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLB Limited (NYSE:SLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.