Erste Asset Management GmbH Reduces Stock Position in SLB Limited $SLB

Erste Asset Management GmbH cut its stake in SLB Limited (NYSE:SLB) by 38.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,994 shares of the oil and gas company’s stock after selling 41,464 shares during the period. Erste Asset Management GmbH’s holdings in SLB were worth $2,317,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SLB. Howard Capital Management Inc. increased its stake in SLB by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 9,165 shares of the oil and gas company’s stock valued at $315,000 after purchasing an additional 288 shares in the last quarter. Fielder Capital Group LLC grew its holdings in SLB by 2.5% in the third quarter. Fielder Capital Group LLC now owns 12,137 shares of the oil and gas company’s stock valued at $417,000 after purchasing an additional 293 shares during the last quarter. Hedges Asset Management LLC increased its position in shares of SLB by 0.9% in the third quarter. Hedges Asset Management LLC now owns 35,000 shares of the oil and gas company’s stock valued at $1,203,000 after buying an additional 300 shares in the last quarter. Gables Capital Management Inc. raised its stake in shares of SLB by 31.6% during the 3rd quarter. Gables Capital Management Inc. now owns 1,250 shares of the oil and gas company’s stock worth $43,000 after buying an additional 300 shares during the last quarter. Finally, LRI Investments LLC raised its stake in shares of SLB by 21.7% during the 3rd quarter. LRI Investments LLC now owns 1,785 shares of the oil and gas company’s stock worth $61,000 after buying an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SLB. Rothschild & Co Redburn set a $48.00 price objective on shares of SLB in a research note on Monday, November 3rd. Piper Sandler raised their price objective on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Stifel Nicolaus set a $56.00 price objective on SLB in a research report on Monday, January 26th. Freedom Capital cut SLB from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Finally, BMO Capital Markets raised their price target on SLB from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Three equities research 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 issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.38.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 4,000 shares of SLB stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.29, for a total value of $201,160.00. Following the transaction, the director owned 19,525 shares in the company, valued at approximately $981,912.25. This trade represents a 17.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dianne B. Ralston sold 18,617 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $49.50, for a total value of $921,541.50. Following the sale, the insider directly owned 224,097 shares of the company’s stock, valued at approximately $11,092,801.50. This trade represents a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 156,902 shares of company stock worth $7,796,666 over the last 90 days. Company insiders own 0.22% of the company’s stock.

SLB Stock Performance

NYSE SLB opened at $51.34 on Friday. The business’s 50-day moving average price is $46.70 and its 200 day moving average price is $39.50. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.36. SLB Limited has a twelve month low of $31.11 and a twelve month high of $52.40. The company has a market capitalization of $76.76 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 3.49 and a beta of 0.73.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. The company 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 in the previous year, the business earned $0.92 EPS. On average, research analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, February 11th will be paid a dividend of $0.295 per share. This is an increase from SLB’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s payout ratio is 49.79%.

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.