SLB Limited $SLB Holdings Increased by Prudential PLC

Key Points

• Prudential PLC increased its stake in SLB by 527.3% in the fourth quarter, ending with 222,612 shares valued at about $8.54 million.
• SLB reported quarterly earnings of $0.52 per share, beating estimates by a penny, while revenue came in at $8.72 billion and rose 2.7% year over year.
• The company announced a quarterly dividend of $0.295 per share, implying an annualized yield of about 2.2%; analysts overall maintain a Moderate Buy consensus with an average target price of $60.67.

Prudential PLC grew its stake in shares of SLB Limited (NYSE:SLB - Free Report) by 527.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 222,612 shares of the oil and gas company's stock after buying an additional 187,124 shares during the quarter. Prudential PLC's holdings in SLB were worth $8,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLB. Steph & Co. raised its holdings in shares of SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 394 shares in the last quarter. Strategic Wealth Advisors LLC bought a new stake in shares of SLB in the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of SLB in the 4th quarter worth approximately $31,000. Lloyd Advisory Services LLC. bought a new stake in shares of SLB in the 4th quarter worth approximately $31,000. Finally, Bruce G. Allen Investments LLC raised its holdings in shares of SLB by 37.0% in the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 227 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Performance

Shares of SLB opened at $54.79 on Friday. The company's 50 day moving average price is $54.22 and its 200 day moving average price is $47.80. SLB Limited has a 52 week low of $31.64 and a 52 week high of $58.82. The company has a market capitalization of $81.91 billion, a PE ratio of 23.92, a PEG ratio of 2.35 and a beta of 0.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34.

SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 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 firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. Research analysts expect that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Announces Dividend

The business 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 dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.2%. SLB's payout ratio is presently 51.53%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SLB shares. BMO Capital Markets boosted their target price on shares of SLB from $55.00 to $63.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. Citigroup boosted their target price on shares of SLB from $59.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Piper Sandler boosted their target price on shares of SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Weiss Ratings downgraded shares of SLB from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $61.00 target price on shares of SLB in a report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.67.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 2,000 shares of the business's stock in a transaction that occurred 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 directly owned 16,953 shares of the company's stock, valued at approximately $921,056.49. The trade was a 10.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the business's stock in a transaction that occurred 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 directly owned 47,421 shares in the company, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.16% of the company's stock.

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.

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.