Principal Financial Group Inc. Buys 81,454 Shares of SLB Limited $SLB

Principal Financial Group Inc. lifted its stake in shares of SLB Limited (NYSE:SLB) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,800,923 shares of the oil and gas company’s stock after buying an additional 81,454 shares during the quarter. Principal Financial Group Inc.’s holdings in SLB were worth $92,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in SLB during the 4th quarter valued at approximately $809,557,000. Bank of New York Mellon Corp raised its position in shares of SLB by 64.4% in the 4th quarter. Bank of New York Mellon Corp now owns 15,696,831 shares of the oil and gas company’s stock worth $602,444,000 after acquiring an additional 6,149,511 shares in the last quarter. Wellington Management Group LLP raised its position in shares of SLB by 50.6% in the 4th quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock worth $638,473,000 after acquiring an additional 5,589,585 shares in the last quarter. State Street Corp lifted its stake in shares of SLB by 7.0% in the 3rd 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. Finally, Capital International Investors lifted its stake in shares of SLB by 86.9% in the 4th quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock valued at $446,247,000 after purchasing an additional 5,404,948 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 2,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 47,421 shares in the company, valued at approximately $2,664,111.78. The trade was a 52.96% decrease in their position. The SEC filing for this sale provides additional information. 0.16% of the stock is currently owned by insiders.

Key Stories Impacting SLB

Here are the key news stories impacting SLB this week:

• Positive Sentiment: The Liberty Energy partnership opens a potential new revenue stream for SLB in AI data center infrastructure and power, expanding the company beyond traditional oilfield services. SLB partners with Liberty Energy to supply modular parts, power to data centers
• Positive Sentiment: SLB said it has already shipped more than 1.3 gigawatts of data center infrastructure since April 2024, with cumulative deliveries expected to exceed 2 gigawatts by the end of 2026, suggesting growing traction in this business line. SLB, Liberty Energy to Form Strategic Alliance for Data Center Infrastructure and Power
• Neutral Sentiment: Recent commentary says SLB still looks undervalued on some fair-value and discounted cash flow measures, which may support the stock, but that view depends on execution and investor confidence in the new data-center strategy. SLB (SLB) Stock Still Trades At A Discount To Fair Value
• Neutral Sentiment: SLB also won a Baleine Phase 3 EPC contract, which adds to subsea backlog and reinforces offshore growth, but this is more of a steady operational win than a major near-term catalyst. SLB Wins Multi-Well EPC Contract for the Baleine Phase 3 Development

SLB Trading Up 0.1%

NYSE SLB opened at $47.56 on Thursday. SLB Limited has a 12 month low of $31.64 and a 12 month high of $58.82. The stock has a market cap of $71.11 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.93 and a beta of 0.72. The stock’s fifty day moving average price is $52.14 and its 200-day moving average price is $50.18. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.SLB’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. As a group, equities analysts forecast that SLB Limited will post 2.58 EPS for the current fiscal year.

SLB Dividend Announcement

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

Wall Street Analyst Weigh In

SLB has been the topic of several recent research reports. Piper Sandler upped their price target on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Weiss Ratings cut shares of SLB from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Raymond James Financial reduced their target price on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Stifel Nicolaus increased their price target on shares of SLB from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, Sanford C. Bernstein lifted their price target on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.65.

SLB Company 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.