SLB Limited $SLB Shares Purchased by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D increased its holdings in SLB Limited by 7.9%, now owning 577,133 shares valued at approximately $19.5 million.
• SLB reported earnings of $0.69 per share for the latest quarter, exceeding analysts' expectations, although revenue decreased by 2.5% year-over-year.
• The company has declared a quarterly dividend of $0.285 per share, reflecting a dividend yield of 3.2% and a payout ratio of 44.02%.

State of New Jersey Common Pension Fund D lifted its holdings in SLB Limited (NYSE:SLB - Free Report) by 7.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 577,133 shares of the oil and gas company's stock after acquiring an additional 42,123 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in SLB were worth $19,507,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SLB. First Command Advisory Services Inc. boosted its holdings in SLB by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after buying an additional 477 shares in the last quarter. Atticus Wealth Management LLC purchased a new stake in SLB during the second quarter worth $29,000. Atlas Capital Advisors Inc. purchased a new stake in SLB during the first quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in SLB by 55.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company's stock worth $33,000 after buying an additional 350 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in SLB during the first quarter worth $38,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SLB shares. Melius assumed coverage on shares of SLB in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective on the stock. Barclays lifted their target price on shares of SLB from $46.00 to $48.00 and gave the company an "overweight" rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of SLB from $44.00 to $43.00 and set an "overweight" rating on the stock in a research report on Monday, October 20th. Wells Fargo & Company lowered shares of SLB from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Piper Sandler set a $42.00 target price on shares of SLB and gave the company an "overweight" rating in a research report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, SLB currently has an average rating of "Moderate Buy" and a consensus target price of $51.69.

SLB Price Performance

SLB stock opened at $35.84 on Friday. SLB Limited has a 12-month low of $31.11 and a 12-month high of $44.97. The stock has a market cap of $53.55 billion, a P/E ratio of 13.84, a PEG ratio of 9.91 and a beta of 0.97. The company has a 50-day moving average price of $34.66 and a 200 day moving average price of $34.55. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The firm had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.99 billion. During the same period last year, the business earned $0.89 earnings per share. SLB's revenue was down 2.5% compared to the same quarter last year. Sell-side analysts anticipate that SLB Limited will post 3.38 earnings per share for the current year.

SLB Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. SLB's dividend payout ratio (DPR) is currently 44.02%.

Insider Buying and Selling at SLB

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of SLB stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently owned by corporate insiders.

SLB Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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