Lansforsakringar Fondforvaltning AB publ Cuts Position in SLB Limited $SLB

Lansforsakringar Fondforvaltning AB publ decreased its holdings in shares of SLB Limited (NYSE:SLB) by 22.3% in the first quarter, Holdings Channel.com reports. The firm owned 468,223 shares of the oil and gas company’s stock after selling 134,524 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in SLB were worth $24,062,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Fearnley Asset Management AS purchased a new position in SLB in the fourth quarter worth about $8,574,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of SLB by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,141,868 shares of the oil and gas company’s stock valued at $126,303,000 after buying an additional 128,660 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of SLB during the first quarter valued at approximately $47,528,000. Cibc World Market Inc. increased its position in shares of SLB by 48.7% during the fourth quarter. Cibc World Market Inc. now owns 1,367,063 shares of the oil and gas company’s stock valued at $52,468,000 after acquiring an additional 447,667 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in SLB by 65.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 205,796 shares of the oil and gas company’s stock worth $7,898,000 after acquiring an additional 81,045 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other SLB news, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the sale, the director directly owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steve Matthew Gassen sold 53,379 shares of the company’s stock in a transaction dated 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 sale, the executive vice president directly owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.16% of the company’s stock.

More SLB News

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB won a seven-year contract from Kuwait Oil Company under the Ahmadi Innovation Valley initiative, supporting applied research, technology deployment, and digital innovation. This could strengthen long-term revenue visibility and highlights demand for SLB’s energy technology offerings. SLB Awarded Seven-Year Contract Under Kuwait Oil Company’s Ahmadi Innovation Valley Initiative
• Positive Sentiment: SLB is also expanding its footprint in Louisiana, with Industrial Realty Group saying the company will occupy more space at its Shreveport campus. While this is not as material as the Kuwait deal, it suggests continued operational expansion and ongoing investment in capacity. IRG Expands Long-Term Lease with SLB in Shreveport, LA, 3.5 Million Sq. Ft. Former GM Facility Now Fully Leased
• Positive Sentiment: Several commentary pieces argue that SLB may be oversold after a sharp recent pullback, and that improving analyst earnings estimates could support a rebound. This may help explain why some investors are starting to view the weakness as a potential buying opportunity. Down 15.3% in 4 Weeks, Here’s Why You Should You Buy the Dip in SLB (SLB)
• Neutral Sentiment: Market-watchers also compared SLB with Enpro (NPO) as a value stock. This is more of a valuation discussion than a direct business catalyst, so it is likely limited in near-term stock impact. SLB vs. NPO: Which Stock Is the Better Value Option?
• Negative Sentiment: Despite the positive contract news, SLB has been trading lower over the past several weeks, reflecting recent selling pressure and concern about near-term momentum. That weakness may be capping enthusiasm even as investors wait to see whether new contract wins translate into stronger earnings. SLB (SLB) Stock Sinks As Market Gains: Here’s Why

SLB Price Performance

NYSE SLB opened at $46.44 on Wednesday. The business’s fifty day moving average price is $53.99 and its 200-day moving average price is $49.56. The stock has a market capitalization of $69.44 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.86 and a beta of 0.70. 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 Limited has a 1-year low of $31.64 and a 1-year high of $58.82.

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

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s dividend payout ratio (DPR) is presently 51.53%.

Wall Street Analyst Weigh In

SLB has been the topic of several recent analyst reports. Wall Street Zen downgraded SLB from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Royal Bank Of Canada restated an “outperform” rating and issued a $61.00 price target on shares of SLB in a research note on Tuesday, June 16th. Barclays upped their price target on SLB from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Morgan Stanley set a $57.00 price objective on SLB in a research report on Monday, April 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price objective on shares of SLB in a report on Sunday, April 26th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.83.

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.