Rathbones Group PLC Reduces Stock Holdings in SLB Limited $SLB

Rathbones Group PLC reduced its position in SLB Limited (NYSE:SLB) by 9.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,883,603 shares of the oil and gas company’s stock after selling 188,353 shares during the quarter. Rathbones Group PLC owned approximately 0.14% of SLB worth $63,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

SLB Trading Up 0.8%

SLB stock opened at $36.65 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.97. The stock has a market cap of $54.75 billion, a P/E ratio of 14.15, a PEG ratio of 10.19 and a beta of 0.97. The firm’s fifty day moving average price is $34.95 and its 200-day moving average price is $34.68.

SLB (NYSE:SLB) last posted its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. The company had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.89 earnings per share. Equities research analysts forecast that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.1%. SLB’s payout ratio is presently 44.02%.

Insider Activity at SLB

In related news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 202,201 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SLB shares. Rothschild & Co Redburn initiated coverage on shares of SLB in a research note on Monday, November 3rd. They set a “buy” rating and a $48.00 price target on the stock. Zacks Research upgraded SLB from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Citigroup raised their price target on SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Melius Research started coverage on SLB in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective on the stock. Finally, Piper Sandler set a $42.00 price objective on SLB and gave the stock an “overweight” rating in a report on Monday, October 20th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.28.

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.