Securian Asset Management Inc. Cuts Stock Holdings in SLB Limited $SLB

Key Points

• Securian Asset Management cut its SLB stake by 43.6% in the fourth quarter, leaving it with 40,622 shares worth about $1.56 million.
• SLB shares were up 3.3% to $55.00, and the company reported quarterly earnings of $0.52 per share, slightly ahead of estimates, on revenue of $8.72 billion.
• The company declared a quarterly dividend of $0.295 per share, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $59.74.

Securian Asset Management Inc. reduced its position in shares of SLB Limited (NYSE:SLB - Free Report) by 43.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,622 shares of the oil and gas company's stock after selling 31,430 shares during the period. Securian Asset Management Inc.'s holdings in SLB were worth $1,559,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SLB. Steph & Co. grew its position in shares of SLB by 97.5% in the fourth 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 in the last quarter. Strategic Wealth Advisors LLC purchased a new stake in shares of SLB in the fourth quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of SLB in the fourth quarter valued at approximately $31,000. Root Financial Partners LLC purchased a new stake in shares of SLB in the third quarter valued at approximately $29,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of SLB in the fourth quarter valued at approximately $34,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

SLB Trading Up 3.3%

Shares of SLB stock opened at $55.00 on Tuesday. The firm has a market capitalization of $82.23 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 3.75 and a beta of 0.72. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $57.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The stock has a 50 day moving average of $50.98 and a 200 day moving average of $45.21.

SLB (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. As a group, research analysts predict that SLB Limited will post 2.61 earnings per share for the current year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio is presently 51.53%.

Insider Activity at SLB

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the 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 completion of the transaction, the executive vice president owned 47,421 shares of the company's stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.16% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SLB shares. Susquehanna upped their price target on SLB from $60.00 to $65.00 and gave the company a "positive" rating in a research report on Monday, April 27th. JPMorgan Chase & Co. upped their price target on SLB from $54.00 to $61.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Loop Capital set a $48.00 price target on SLB in a research report on Tuesday, January 27th. TD Cowen upped their price target on SLB from $55.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Finally, The Goldman Sachs Group upped their price target on SLB from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $59.74.

SLB Company 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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