SLB Limited $SLB Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH decreased its holdings in SLB Limited (NYSE:SLB) by 38.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,994 shares of the oil and gas company’s stock after selling 41,464 shares during the quarter. Erste Asset Management GmbH’s holdings in SLB were worth $2,317,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SLB. Twin Peaks Wealth Advisors LLC purchased a new position in SLB in the second quarter valued at $25,000. Root Financial Partners LLC purchased a new position in SLB in the third quarter worth approximately $29,000. Corsicana & Co. acquired a new position in SLB during the 3rd quarter worth approximately $31,000. Strengthening Families & Communities LLC purchased a new stake in SLB during the 3rd quarter worth about $31,000. Finally, NewSquare Capital LLC lifted its stake in SLB by 51.4% during the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 341 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

SLB Price Performance

Shares of NYSE SLB opened at $51.34 on Friday. The stock has a fifty day moving average price of $46.70 and a 200 day moving average price of $39.50. SLB Limited has a 1-year low of $31.11 and a 1-year high of $52.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. The company has a market cap of $76.76 billion, a PE ratio of 21.66, a P/E/G ratio of 3.49 and a beta of 0.73.

SLB (NYSE:SLB) last announced its quarterly earnings data on Friday, January 23rd. The oil and gas company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. SLB had a net margin of 9.45% and a return on equity of 17.45%. The company had revenue of $9.75 billion during the quarter, compared to the consensus estimate of $9.54 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. SLB’s quarterly revenue was up 5.0% on a year-over-year basis. Sell-side analysts forecast that SLB Limited will post 3.38 EPS for the current year.

SLB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, February 11th will be issued 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 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Wednesday, February 11th. SLB’s dividend payout ratio is currently 49.79%.

Wall Street Analyst Weigh In

Several brokerages recently commented on SLB. TD Cowen lifted their price target on shares of SLB from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Piper Sandler raised their price target on SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Citigroup lifted their price target on SLB from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Loop Capital set a $48.00 price objective on SLB in a report on Tuesday, January 27th. Finally, UBS Group reaffirmed a “buy” rating on shares of SLB in a report on Tuesday, January 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.38.

Insider Transactions at SLB

In other news, Director La Chevardiere Patrick De sold 4,000 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $50.29, for a total transaction of $201,160.00. Following the completion of the transaction, the director directly owned 19,525 shares of the company’s stock, valued at approximately $981,912.25. This represents a 17.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Howard Guild sold 13,268 shares of SLB stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $659,419.60. Following the completion of the sale, the chief accounting officer owned 22,407 shares in the company, valued at approximately $1,113,627.90. This trade represents a 37.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 156,902 shares of company stock valued at $7,796,666 over the last 90 days. Insiders own 0.22% of the company’s stock.

About SLB

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.