SLB Limited $SLB Shares Purchased by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB boosted its SLB stake by 41.6% in the first quarter, adding 376,305 shares to bring its total to 1,280,458 shares worth about $65.8 million.
• SLB reported quarterly EPS of $0.52, slightly ahead of estimates, while revenue came in at $8.72 billion, just below expectations but still up 2.7% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $59.80; SLB also recently paid a quarterly dividend of $0.295, yielding about 2.5% annually.

AMF Tjanstepension AB increased its stake in shares of SLB Limited (NYSE:SLB - Free Report) by 41.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,280,458 shares of the oil and gas company's stock after acquiring an additional 376,305 shares during the period. AMF Tjanstepension AB owned approximately 0.09% of SLB worth $65,803,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Abel Hall LLC lifted its holdings in shares of SLB by 2.7% in the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company's stock worth $387,000 after purchasing an additional 198 shares during the last quarter. Private Wealth Asset Management LLC grew its stake in SLB by 4.1% during the 4th quarter. Private Wealth Asset Management LLC now owns 5,041 shares of the oil and gas company's stock worth $193,000 after buying an additional 200 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in SLB by 9.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,503 shares of the oil and gas company's stock worth $129,000 after buying an additional 214 shares during the last quarter. Ballentine Partners LLC increased its position in SLB by 2.2% in the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company's stock worth $395,000 after buying an additional 218 shares during the period. Finally, Davis Capital Management increased its position in SLB by 1.0% in the first quarter. Davis Capital Management now owns 21,968 shares of the oil and gas company's stock worth $1,129,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

SLB Stock Down 0.0%

NYSE SLB opened at $47.76 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The company's 50 day simple moving average is $52.65 and its 200 day simple moving average is $49.98. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The company has a market capitalization of $71.40 billion, a P/E ratio of 20.85, a PEG ratio of 1.94 and a beta of 0.72.

SLB (NYSE:SLB - Get Free Report) last released 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 business 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 company's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.72 EPS. Equities research analysts expect that SLB Limited will post 2.59 earnings per share for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd were given a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, June 3rd. SLB's dividend payout ratio is 51.53%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of SLB from $55.00 to $63.00 and gave the company an "outperform" rating in a report on Monday, April 27th. Barclays increased their price objective on shares of SLB from $49.00 to $51.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Citigroup cut their price objective on shares of SLB from $68.00 to $63.00 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Susquehanna reduced their target price on shares of SLB from $65.00 to $55.00 and set a "positive" rating for the company in a research note on Wednesday, July 8th. Finally, Stifel Nicolaus upped their target price on shares of SLB from $61.00 to $64.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $59.80.

Insider Activity at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction 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 owned 16,953 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $56.18, for a total value 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. 0.16% of the stock is currently owned by corporate 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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