SLB Limited $SLB Stake Cut by Schroder Investment Management Group

Schroder Investment Management Group cut its holdings in shares of SLB Limited (NYSE:SLB) by 10.0% in the second quarter, HoldingsChannel reports. The fund owned 767,279 shares of the oil and gas company’s stock after selling 84,819 shares during the quarter. Schroder Investment Management Group’s holdings in SLB were worth $25,934,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SLB. Legacy Wealth Asset Management LLC boosted its holdings in shares of SLB by 2.2% during the second quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock worth $486,000 after purchasing an additional 308 shares during the period. EntryPoint Capital LLC lifted its position in SLB by 4.5% in the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after buying an additional 316 shares in the last quarter. Horizon Investments LLC boosted its stake in shares of SLB by 1.5% during the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock valued at $946,000 after buying an additional 330 shares during the period. CreativeOne Wealth LLC boosted its stake in shares of SLB by 6.3% during the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after buying an additional 335 shares during the period. Finally, NewSquare Capital LLC increased its stake in shares of SLB by 51.4% in the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 341 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In other SLB news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the completion of the transaction, the executive vice president owned 159,371 shares of the company’s stock, valued at $6,006,692.99. The trade was a 27.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 143,674 shares of company stock worth $5,304,687. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SLB shares. Rothschild Redb raised SLB to a “strong-buy” rating in a research report on Monday, November 3rd. Barclays raised their price target on SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Redburn Partners set a $48.00 price target on SLB in a research note on Monday, November 3rd. Rothschild & Co Redburn started coverage on shares of SLB in a research report on Monday, November 3rd. They set a “buy” rating and a $48.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.28.

SLB Stock Down 0.7%

Shares of SLB stock opened at $36.34 on Wednesday. The stock’s 50 day simple moving average is $35.22 and its 200 day simple moving average is $34.87. SLB Limited has a twelve month low of $31.11 and a twelve month high of $44.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The company has a market capitalization of $54.29 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last announced its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm had revenue of $8.93 billion during the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. As a group, research analysts predict that SLB Limited will post 3.38 EPS for the current year.

SLB Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid a $0.285 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.1%. SLB’s dividend payout ratio (DPR) is presently 44.02%.

SLB Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.