SLB Limited $SLB Shares Acquired by KBC Group NV

Key Points

• KBC Group NV increased its stake in SLB by 17.8% in Q4, buying 19,657 shares to hold 130,200 shares worth about $4.997 million.
• SLB beat Q4 expectations with $0.78 EPS vs. $0.74 estimated and $9.75B revenue vs. $9.54B est.; the company also raised its quarterly dividend to $0.295 (annualized $1.18, ~2.2% yield) while analysts have been lifting price targets and the consensus rating is a "Moderate Buy" (avg target $54.27).
• Significant insider selling occurred recently—insiders sold 156,902 shares valued at ~$7.8M in the last 90 days—while institutional investors hold 81.99% of SLB and insiders own just 0.16%.

KBC Group NV increased its position in SLB Limited (NYSE:SLB - Free Report) by 17.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,200 shares of the oil and gas company's stock after purchasing an additional 19,657 shares during the quarter. KBC Group NV's holdings in SLB were worth $4,997,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Root Financial Partners LLC purchased a new position in SLB in the 3rd quarter valued at about $29,000. Corsicana & Co. purchased a new stake in shares of SLB during the third quarter worth about $31,000. Strengthening Families & Communities LLC acquired a new position in shares of SLB in the third quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of SLB in the fourth quarter worth about $31,000. Finally, Steph & Co. boosted its holdings in 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 during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

SLB Trading Up 0.0%

Shares of NYSE SLB opened at $52.68 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.36. The stock's 50 day moving average price is $49.93 and its two-hundred day moving average price is $43.10. SLB Limited has a 52-week low of $31.64 and a 52-week high of $54.80. The stock has a market capitalization of $79.16 billion, a P/E ratio of 22.23, a PEG ratio of 3.61 and a beta of 0.69.

SLB (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company had revenue of $9.75 billion during the quarter, compared to analyst estimates of $9.54 billion. During the same quarter last year, the firm earned $0.92 EPS. The business's revenue was up 5.0% on a year-over-year basis. On average, analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th were paid a dividend of $0.295 per share. The ex-dividend date was Wednesday, February 11th. This is a positive change from SLB's previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 2.2%. SLB's payout ratio is presently 49.79%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Susquehanna lifted their price objective on SLB from $56.00 to $60.00 and gave the stock a "positive" rating in a report on Tuesday, April 7th. Piper Sandler increased their target price on SLB from $53.00 to $59.00 and gave the company an "overweight" rating in a research note on Wednesday. Argus raised shares of SLB to a "strong-buy" rating in a research report on Monday, January 26th. Jefferies Financial Group lifted their price target on shares of SLB from $51.00 to $58.00 and gave the stock a "buy" rating in a research note on Sunday, February 1st. Finally, Barclays upped their price target on shares of SLB from $47.00 to $49.00 and gave the company an "overweight" rating in a report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.27.

Insider Activity at SLB

In related news, Director La Chevardiere Patrick De sold 4,000 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.29, for a total transaction of $201,160.00. Following the sale, the director owned 19,525 shares in the company, valued at $981,912.25. This represents a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephane Biguet sold 61,017 shares of the firm's stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $3,032,544.90. Following the completion of the transaction, the chief financial officer directly owned 155,548 shares in the company, valued at $7,730,735.60. This represents a 28.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 156,902 shares of company stock valued at $7,796,666 in the last ninety days. 0.16% of the stock is owned by insiders.

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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