Nordea Investment Management AB Has $3.73 Million Stock Holdings in SLB Limited $SLB

Nordea Investment Management AB trimmed its holdings in shares of SLB Limited (NYSE:SLB) by 95.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,124 shares of the oil and gas company’s stock after selling 2,060,761 shares during the quarter. Nordea Investment Management AB’s holdings in SLB were worth $3,733,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of SLB by 23.3% during the third quarter. Vanguard Group Inc. now owns 185,374,879 shares of the oil and gas company’s stock worth $6,371,335,000 after purchasing an additional 35,057,313 shares during the period. State Street Corp increased its holdings 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 purchasing an additional 5,466,786 shares during the period. Norges Bank acquired a new stake in SLB in the second quarter valued at $618,697,000. Dimensional Fund Advisors LP raised its position in SLB by 25.2% during the 3rd 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 during the last quarter. Finally, Northern Trust Corp lifted its holdings in SLB by 10.7% during the 3rd quarter. Northern Trust Corp now owns 15,359,990 shares of the oil and gas company’s stock worth $527,923,000 after buying an additional 1,490,859 shares during the period. Institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

SLB stock opened at $53.51 on Friday. The firm has a market cap of $80.39 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $49.27 and a 200-day moving average price of $41.30. SLB Limited has a 1-year low of $31.11 and a 1-year high of $53.70.

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

SLB Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.18 annualized dividend and a dividend yield of 2.2%. SLB’s payout ratio is 49.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Jefferies Financial Group upped their price target on SLB from $51.00 to $58.00 and gave the company a “buy” rating in a research report on Sunday, February 1st. Argus raised SLB to a “strong-buy” rating in a research note on Monday, January 26th. Morgan Stanley reiterated an “overweight” rating and issued a $50.00 target price on shares of SLB in a report on Wednesday, January 21st. BMO Capital Markets increased their target price 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, Citigroup raised their price target on shares of SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction 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 completion of the sale, the executive vice president owned 140,602 shares in the company, valued at $6,987,919.40. The trade was a 29.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Howard Guild sold 13,268 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $49.70, for a total transaction of $659,419.60. Following the transaction, the chief accounting officer directly owned 22,407 shares in the company, valued at approximately $1,113,627.90. This represents a 37.19% 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 worth $7,796,666 over the last ninety days. 0.16% of the stock is owned by company insiders.

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.