Vaughan Nelson Investment Management L.P. Purchases Shares of 924,850 SLB Limited $SLB

Key Points

• Vaughan Nelson Investment Management bought a new stake in SLB during the first quarter, acquiring 924,850 shares worth about $47.5 million.
• Several other institutional investors also increased or initiated positions in SLB, and institutions now own 81.99% of the company’s stock.
• Analysts remain broadly positive on SLB, with a consensus rating of “Moderate Buy” and an average price target of $60.83; the company also recently posted quarterly EPS of $0.52, slightly ahead of estimates.

Vaughan Nelson Investment Management L.P. purchased a new stake in SLB Limited (NYSE:SLB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 924,850 shares of the oil and gas company's stock, valued at approximately $47,528,000. Vaughan Nelson Investment Management L.P. owned 0.06% of SLB at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SLB. Norges Bank bought a new stake in SLB in the 4th quarter valued at about $809,557,000. Bank of New York Mellon Corp raised its position in shares of SLB by 64.4% in the fourth quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company's stock valued at $602,444,000 after buying an additional 6,149,511 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of SLB by 50.6% in the fourth quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company's stock valued at $638,473,000 after buying an additional 5,589,585 shares during the period. State Street Corp grew its position in SLB by 7.0% during the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company's stock worth $2,898,037,000 after buying an additional 5,466,786 shares in the last quarter. Finally, Capital International Investors grew its position in SLB by 86.9% during the fourth quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company's stock worth $446,247,000 after buying an additional 5,404,948 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Insider Transactions at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president owned 47,421 shares in the company, valued at $2,664,111.78. This trade represents a 52.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business's stock in a transaction 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 sale, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SLB has been the subject of several analyst reports. Sanford C. Bernstein lifted their price objective on SLB from $56.10 to $71.00 and gave the company an "outperform" rating in a report on Monday, May 11th. The Goldman Sachs Group upped their price objective on shares of SLB from $53.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. Evercore reiterated an "outperform" rating and set a $64.00 price objective on shares of SLB in a research note on Monday, April 27th. Barclays raised their target price on shares of SLB from $49.00 to $51.00 and gave the company an "overweight" rating in a report on Monday, April 27th. Finally, Piper Sandler upped their price target on shares of SLB from $53.00 to $59.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.83.

SLB Stock Performance

NYSE SLB opened at $48.12 on Monday. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The firm's fifty day moving average price is $54.69 and its two-hundred day moving average price is $49.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. The stock has a market cap of $71.95 billion, a PE ratio of 21.01, a PEG ratio of 1.93 and a beta of 0.70.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings results 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 company had revenue of $8.72 billion for the quarter, compared to analysts' expectations of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. On average, equities analysts expect that SLB Limited will post 2.62 EPS for the current fiscal year.

SLB Dividend Announcement

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 issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, June 3rd. SLB's dividend payout ratio (DPR) is 51.53%.

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.

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