Nippon Life Global Investors Americas Inc. Purchases 102,450 Shares of SLB Limited $SLB

Nippon Life Global Investors Americas Inc. boosted its position in SLB Limited (NYSE:SLB) by 147.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 171,740 shares of the oil and gas company’s stock after acquiring an additional 102,450 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in SLB were worth $8,406,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SLB. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of SLB during the 3rd quarter worth $90,918,000. Cidel Asset Management Inc. acquired a new stake in shares of SLB during the third quarter worth $690,000. Americana Partners LLC boosted its holdings in shares of SLB by 72.0% during the third quarter. Americana Partners LLC now owns 210,179 shares of the oil and gas company’s stock worth $10,240,000 after purchasing an additional 87,990 shares during the last quarter. State of Wyoming purchased a new stake in shares of SLB in the third quarter valued at $272,000. Finally, Soltis Investment Advisors LLC grew its position in shares of SLB by 7.3% in the third quarter. Soltis Investment Advisors LLC now owns 175,315 shares of the oil and gas company’s stock valued at $8,541,000 after purchasing an additional 11,991 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Stock Performance

NYSE SLB opened at $53.78 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.02. SLB Limited has a 1-year low of $34.65 and a 1-year high of $60.46. The firm has a market capitalization of $79.38 billion, a P/E ratio of 26.11, a P/E/G ratio of 2.98 and a beta of 0.83. The business’s 50-day simple moving average is $52.50 and its 200-day simple moving average is $51.37.

SLB (NYSE:SLB) last posted its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. SLB had a net margin of 8.40% and a return on equity of 13.77%. The firm had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the prior year, the company earned $0.69 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Equities analysts predict that SLB Limited will post 2.46 EPS for the current year.

SLB Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 2nd will be paid a dividend of $0.2950 per share. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, December 2nd. SLB’s payout ratio is currently 57.28%.

Insider Buying and Selling at SLB

In related news, CAO Howard Guild sold 10,047 shares of SLB stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $53.65, for a total transaction of $539,021.55. Following the transaction, the chief accounting officer owned 12,845 shares in the company, valued at approximately $689,134.25. The trade was a 43.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dianne B. Ralston sold 20,986 shares of SLB stock in a transaction on Friday, October 30th. The shares were sold at an average price of $53.57, for a total transaction of $1,124,220.02. Following the transaction, the insider owned 205,053 shares in the company, valued at $10,984,689.21. The trade was a 9.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays dropped their target price on SLB from $66.00 to $63.00 and set an “overweight” rating for the company in a research note on Monday, October 26th. Citigroup decreased their price target on SLB from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, October 19th. Evercore lifted their price target on SLB from $63.00 to $66.00 in a report on Thursday, October 8th. Piper Sandler upped their price objective on shares of SLB from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 26th. Finally, Freedom Broker upgraded shares of SLB from a “sell” rating to a “hold” rating and set a $48.00 price objective on the stock in a report on Monday, October 26th. Twenty-four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, SLB currently has a consensus rating of “Moderate Buy” and an average target price of $61.52.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.