Swedbank AB Has $23.71 Million Stock Holdings in SLB Limited $SLB

Key Points

• Swedbank AB increased its SLB stake by 24.4% in the fourth quarter, adding 121,174 shares to reach 617,630 shares valued at about $23.7 million.
• Wall Street sentiment remains mostly positive, with analysts assigning SLB a consensus rating of “Moderate Buy” and an average price target of $59.74.
• SLB reported solid quarterly results and a dividend, topping EPS estimates at $0.52 and announcing a $0.295 quarterly dividend, implying a 2.1% yield.

Swedbank AB lifted its position in SLB Limited (NYSE:SLB - Free Report) by 24.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 617,630 shares of the oil and gas company's stock after purchasing an additional 121,174 shares during the quarter. Swedbank AB's holdings in SLB were worth $23,705,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of SLB by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 186,455,878 shares of the oil and gas company's stock worth $7,156,177,000 after purchasing an additional 1,080,999 shares during the last quarter. State Street Corp grew its holdings in shares of SLB by 7.0% in the 3rd quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company's stock worth $2,898,037,000 after purchasing an additional 5,466,786 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of SLB by 0.6% in the 4th quarter. First Eagle Investment Management LLC now owns 27,718,458 shares of the oil and gas company's stock worth $1,063,834,000 after purchasing an additional 174,564 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of SLB by 25.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 15,366,347 shares of the oil and gas company's stock worth $528,217,000 after purchasing an additional 3,094,764 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of SLB by 10.7% in the 3rd quarter. Northern Trust Corp now owns 15,359,990 shares of the oil and gas company's stock worth $527,923,000 after purchasing an additional 1,490,859 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Loop Capital set a $48.00 target price on shares of SLB in a report on Tuesday, January 27th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $65.00 target price on shares of SLB in a report on Sunday, April 26th. Barclays upped their target price on shares of SLB from $49.00 to $51.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Stifel Nicolaus increased their price objective on shares of SLB from $56.00 to $61.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Finally, Freedom Capital lowered shares of SLB from a "hold" rating to a "strong sell" rating in a report on Tuesday, January 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $59.74.

SLB Stock Down 0.0%

Shares of NYSE:SLB opened at $57.27 on Tuesday. SLB Limited has a 12 month low of $31.64 and a 12 month high of $57.88. The company's 50-day moving average price is $52.66 and its two-hundred day moving average price is $46.65. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm has a market cap of $85.63 billion, a P/E ratio of 25.01, a P/E/G ratio of 2.32 and a beta of 0.72.

SLB (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping 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 analyst estimates of $8.76 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The company's revenue was up 2.7% on a year-over-year basis. As a group, research analysts forecast that SLB Limited will post 2.61 EPS for the current fiscal year.

SLB Dividend Announcement

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

Insider Activity

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the firm's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the transaction, the director owned 16,953 shares of the company's stock, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by company 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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