SLB Limited $SLB Shares Bought by Neuberger Berman Group LLC

Neuberger Berman Group LLC lifted its holdings in shares of SLB Limited (NYSE:SLB) by 37.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,796,501 shares of the oil and gas company’s stock after buying an additional 487,298 shares during the period. Neuberger Berman Group LLC’s holdings in SLB were worth $61,820,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC acquired a new stake in SLB in the 2nd quarter valued at $25,000. Root Financial Partners LLC purchased a new position in SLB in the third quarter valued at about $29,000. Corsicana & Co. acquired a new position in shares of SLB during the third quarter worth about $31,000. Strengthening Families & Communities LLC acquired a new position in shares of SLB during the third quarter worth about $31,000. Finally, SouthState Bank Corp boosted its position in shares of SLB by 57.4% in the third quarter. SouthState Bank Corp now owns 1,212 shares of the oil and gas company’s stock worth $42,000 after buying an additional 442 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group reiterated a “buy” rating on shares of SLB in a research note on Tuesday, January 27th. Citigroup boosted their price target on SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Jefferies Financial Group upped their price target on SLB from $51.00 to $58.00 and gave the stock a “buy” rating in a report on Sunday, February 1st. BMO Capital Markets increased their price objective on shares of SLB from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Sanford C. Bernstein lifted their price objective on shares of SLB from $47.60 to $52.30 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Three 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.96.

SLB Price Performance

Shares of SLB stock opened at $46.86 on Friday. The firm has a fifty day moving average of $47.73 and a two-hundred day moving average of $39.98. The firm has a market cap of $70.41 billion, a P/E ratio of 19.77, a P/E/G ratio of 3.22 and a beta of 0.68. SLB Limited has a 1-year low of $31.11 and a 1-year high of $52.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98.

SLB (NYSE:SLB) last issued its earnings results on Friday, January 23rd. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The business had revenue of $9.75 billion for the quarter, compared to analyst estimates of $9.54 billion. During the same quarter in the prior year, the business posted $0.92 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, research analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. The ex-dividend date is Wednesday, February 11th. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 2.5%. SLB’s payout ratio is currently 49.79%.

Insider Activity

In other news, CFO Stephane Biguet sold 61,017 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $3,032,544.90. Following the completion of the sale, the chief financial officer directly owned 155,548 shares in the company, valued at approximately $7,730,735.60. The trade was a 28.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $2,982,000.00. Following the sale, the executive vice president directly owned 140,602 shares in the company, valued at approximately $6,987,919.40. This represents a 29.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 156,902 shares of company stock valued at $7,796,666 over the last three months. Company insiders own 0.22% of the company’s stock.

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.