Nwam LLC Acquires Shares of 75,089 SLB Limited $SLB

Key Points

• Nwam LLC initiated a new position in SLB during the fourth quarter, buying 75,089 shares valued at about $2.88 million.
• Several other institutional investors also added to SLB, and the stock remains heavily institutionally owned at 81.99%.
• Analysts are broadly positive on SLB, with an average rating of Moderate Buy and an average price target of $58.95, while the company recently beat earnings expectations by $0.01 per share and announced a quarterly dividend of $0.295.

Nwam LLC acquired a new stake in SLB Limited (NYSE:SLB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 75,089 shares of the oil and gas company's stock, valued at approximately $2,882,000.

A number of other institutional investors also recently bought and sold shares of SLB. Americana Partners LLC lifted its position in SLB by 10.1% during the 3rd quarter. Americana Partners LLC now owns 248,057 shares of the oil and gas company's stock worth $8,526,000 after acquiring an additional 22,706 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in SLB by 13.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 210,056 shares of the oil and gas company's stock valued at $7,220,000 after buying an additional 25,417 shares during the period. Nordea Investment Management AB increased its stake in SLB by 4.9% in the 3rd quarter. Nordea Investment Management AB now owns 2,157,885 shares of the oil and gas company's stock valued at $72,354,000 after buying an additional 100,918 shares during the period. Principal Financial Group Inc. increased its stake in 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 valued at $57,647,000 after buying an additional 147,175 shares during the period. Finally, Evergreen Capital Management LLC increased its stake in SLB by 512.6% in the 3rd quarter. Evergreen Capital Management LLC now owns 610,611 shares of the oil and gas company's stock valued at $21,157,000 after buying an additional 510,929 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLB has been the topic of several recent research reports. The Goldman Sachs Group boosted their price objective on shares of SLB from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, March 4th. BMO Capital Markets raised their price objective on shares of SLB from $55.00 to $63.00 and gave the company an "outperform" rating in a research report on Monday, April 27th. Wall Street Zen downgraded shares of SLB from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Piper Sandler upped their price objective on SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Finally, Evercore reiterated an "outperform" rating and issued a $64.00 price objective on shares of SLB in a research note on Monday, April 27th. Three investment 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $58.95.

SLB Stock Down 0.1%

SLB stock opened at $53.21 on Monday. SLB Limited has a 12 month low of $31.64 and a 12 month high of $57.20. The firm has a market capitalization of $79.55 billion, a PE ratio of 23.24, a P/E/G ratio of 3.75 and a beta of 0.72. The company's 50 day simple moving average is $50.88 and its 200-day simple moving average is $44.92. 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 released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share. Equities analysts expect that SLB Limited will post 2.61 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB's dividend payout ratio (DPR) is presently 51.53%.

Insider Transactions at SLB

In other SLB news, EVP Steve Matthew Gassen sold 53,379 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 47,421 shares of the company's stock, valued at approximately $2,664,111.78. This trade represents a 52.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the company's 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 transaction, the director directly owned 16,953 shares of the company's stock, valued at $921,056.49. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by company 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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