Greenhaven Associates Inc. Makes New Investment in SLB Limited $SLB

Greenhaven Associates Inc. bought a new position in SLB Limited (NYSE:SLB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,660,827 shares of the oil and gas company’s stock, valued at approximately $178,883,000. SLB accounts for 2.9% of Greenhaven Associates Inc.’s holdings, making the stock its 12th largest holding.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in SLB by 23.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock worth $6,371,335,000 after acquiring an additional 35,057,313 shares during the period. State Street Corp grew its position in SLB by 7.0% in the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after acquiring an additional 5,466,786 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of SLB by 30.4% during the second quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock valued at $683,901,000 after purchasing an additional 4,719,852 shares during the period. Norges Bank acquired a new position in shares of SLB during the second quarter worth $618,697,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of SLB by 25.2% during the third 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 in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $49.70, for a total value of $659,419.60. Following the completion of the transaction, the chief accounting officer directly owned 22,407 shares in the company, valued at approximately $1,113,627.90. This trade represents a 37.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephane Biguet sold 61,017 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were 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 of the company’s stock, valued at approximately $7,730,735.60. This represents a 28.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 156,902 shares of company stock valued at $7,796,666. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SLB. Freedom Capital lowered shares of SLB from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. JPMorgan Chase & Co. boosted their price objective on shares of SLB from $43.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Piper Sandler upped their price objective on shares of SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Bank of America raised their target price on SLB from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Stifel Nicolaus set a $56.00 price target on SLB in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

SLB Stock Down 2.5%

Shares of NYSE:SLB opened at $46.61 on Friday. The firm has a market cap of $70.03 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 3.40 and a beta of 0.68. The company has a fifty day simple moving average of $48.74 and a 200 day simple moving average of $40.75. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. SLB Limited has a 12-month low of $31.11 and a 12-month high of $52.45.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.54 billion. SLB had a net margin of 9.45% and a return on equity of 17.45%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.92 EPS. On average, equities research analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This is a positive change from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 2.5%. SLB’s dividend payout ratio is 49.79%.

SLB 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.