Flossbach Von Storch SE Sells 46,679 Shares of SLB Limited $SLB

Flossbach Von Storch SE lessened its position in shares of SLB Limited (NYSE:SLB) by 43.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,798 shares of the oil and gas company’s stock after selling 46,679 shares during the period. Flossbach Von Storch SE’s holdings in SLB were worth $2,021,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SLB. Charles Schwab Investment Management Inc. lifted its holdings in SLB by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after purchasing an additional 39,474,501 shares during the last quarter. Boston Partners lifted its holdings in shares of SLB by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after buying an additional 4,300,222 shares in the last quarter. Northern Trust Corp boosted its position in shares of SLB by 4.4% in the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after acquiring an additional 604,832 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of SLB by 22.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock valued at $375,738,000 after acquiring an additional 1,667,203 shares in the last quarter. Finally, Invesco Ltd. increased its position in SLB by 3.8% during the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock worth $320,154,000 after acquiring an additional 281,937 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on SLB. JPMorgan Chase & Co. cut their price objective on shares of SLB from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Barclays lifted their price target on shares of SLB from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Wells Fargo & Company cut SLB from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a research note on Wednesday, October 8th. Finally, Citigroup lifted their price objective on SLB from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.28.

Insider Buying and Selling

In other news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

SLB Stock Performance

Shares of NYSE:SLB opened at $36.65 on Friday. SLB Limited has a 1 year low of $31.11 and a 1 year high of $44.97. The stock has a market capitalization of $54.75 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The company’s 50 day simple moving average is $34.95 and its 200 day simple moving average is $34.68.

SLB (NYSE:SLB) last released its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company earned $0.89 earnings per share. The company’s quarterly 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 fiscal year.

SLB Dividend Announcement

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

SLB Company 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.