Mitsubishi UFJ Asset Management Co. Ltd. Acquires 274,667 Shares of SLB Limited $SLB

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in SLB Limited (NYSE:SLB) by 10.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,013,208 shares of the oil and gas company’s stock after acquiring an additional 274,667 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of SLB worth $103,564,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Robotti Robert bought a new stake in shares of SLB in the 3rd quarter valued at approximately $275,000. Cary Street Partners Financial LLC lifted its position in shares of SLB by 13.8% during the 3rd quarter. Cary Street Partners Financial LLC now owns 123,291 shares of the oil and gas company’s stock worth $4,238,000 after buying an additional 14,976 shares during the period. TD Asset Management Inc boosted its stake in SLB by 17.6% in the 3rd quarter. TD Asset Management Inc now owns 614,261 shares of the oil and gas company’s stock valued at $21,112,000 after buying an additional 92,088 shares in the last quarter. Parr Mcknight Wealth Management Group LLC bought a new stake in SLB in the third quarter valued at $323,000. Finally, America First Investment Advisors LLC raised its stake in SLB by 1.1% during the third quarter. America First Investment Advisors LLC now owns 563,100 shares of the oil and gas company’s stock worth $19,354,000 after acquiring an additional 6,340 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB Trading Down 0.3%

NYSE:SLB opened at $51.34 on Friday. The firm has a market capitalization of $76.76 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 3.50 and a beta of 0.73. SLB Limited has a 1-year low of $31.11 and a 1-year high of $52.40. The business’s 50-day moving average price is $46.70 and its two-hundred day moving average price is $39.45. 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 (NYSE:SLB) last announced its quarterly earnings results 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. SLB had a return on equity of 17.45% and a net margin of 9.45%.The company had revenue of $9.75 billion during the quarter, compared to analysts’ expectations of $9.54 billion. During the same period in the prior year, the business posted $0.92 EPS. SLB’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts expect that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The company 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. This is a positive change from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s payout ratio is 49.79%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Citigroup upped their target price on shares of SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, January 26th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $49.00 price objective on shares of SLB in a research note on Wednesday, January 14th. Wall Street Zen raised shares of SLB from a “hold” rating to a “buy” rating in a report on Saturday. TD Cowen boosted their target price on SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Loop Capital set a $48.00 price target on SLB in a research report on Tuesday, January 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.38.

Insider Buying and Selling

In other SLB news, Director La Chevardiere Patrick De sold 4,000 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total value of $201,160.00. Following the completion of the transaction, the director directly owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. The trade was a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 61,017 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 155,548 shares in the company, valued at approximately $7,730,735.60. This represents a 28.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 156,902 shares of company stock worth $7,796,666 over the last ninety days. Insiders own 0.22% of the company’s stock.

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.