SLB Limited $SLB Stock Position Lifted by ING Groep NV

ING Groep NV boosted its stake in shares of SLB Limited (NYSE:SLB) by 50.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 290,918 shares of the oil and gas company’s stock after purchasing an additional 96,993 shares during the period. ING Groep NV’s holdings in SLB were worth $11,165,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Capital Research Global Investors grew its position in SLB by 16.7% in the fourth quarter. Capital Research Global Investors now owns 10,539,972 shares of the oil and gas company’s stock worth $404,524,000 after acquiring an additional 1,508,712 shares in the last quarter. Capital International Sarl grew its position in SLB by 8.3% in the fourth quarter. Capital International Sarl now owns 205,184 shares of the oil and gas company’s stock worth $7,875,000 after acquiring an additional 15,639 shares in the last quarter. Capital International Ltd. CA grew its position in SLB by 3.8% in the fourth quarter. Capital International Ltd. CA now owns 123,445 shares of the oil and gas company’s stock worth $4,738,000 after acquiring an additional 4,497 shares in the last quarter. Capital International Inc. CA grew its position in SLB by 2.1% in the fourth quarter. Capital International Inc. CA now owns 174,600 shares of the oil and gas company’s stock worth $6,701,000 after acquiring an additional 3,522 shares in the last quarter. Finally, Capital International Investors grew its position in SLB by 86.9% in 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 acquiring an additional 5,404,948 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction on 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 owned 47,421 shares of the company’s stock, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. TD Cowen boosted their target price on shares of SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Weiss Ratings downgraded shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Jefferies Financial Group reissued a “buy” rating and issued a $65.00 target price on shares of SLB in a research report on Sunday, April 26th. Citigroup upped their price objective on shares of SLB from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of SLB in a report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and a consensus price target of $60.67.

SLB Price Performance

NYSE:SLB opened at $54.79 on Monday. The stock has a market cap of $81.91 billion, a P/E ratio of 23.92, a PEG ratio of 2.22 and a beta of 0.70. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The company has a fifty day moving average price of $54.22 and a 200 day moving average price of $47.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.

SLB (NYSE:SLB) last released its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. Analysts anticipate that SLB Limited will post 2.62 earnings per share for the current year.

SLB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, June 3rd. SLB’s dividend payout ratio is presently 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.