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

Flossbach Von Storch SE trimmed its stake in shares of SLB Limited (NYSE:SLB) by 43.8% during 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. First Command Advisory Services Inc. lifted its holdings in shares of SLB by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 477 shares in the last quarter. Atticus Wealth Management LLC acquired a new stake in SLB in the 2nd quarter valued at approximately $29,000. Atlas Capital Advisors Inc. bought a new stake in SLB in the 1st quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in SLB by 55.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 350 shares during the last quarter. Finally, NewSquare Capital LLC grew its stake in shares of SLB by 51.4% during the 2nd 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 in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SLB shares. Rothschild & Co Redburn started coverage on shares of SLB in a research report on Monday, November 3rd. They issued a “buy” rating and a $48.00 price objective on the stock. Redburn Partners set a $48.00 price target on shares of SLB in a research note on Monday, November 3rd. UBS Group reissued a “buy” rating and set a $44.00 price target on shares of SLB in a research report on Tuesday, October 21st. Stifel Nicolaus decreased their price objective on SLB from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Finally, Melius Research assumed coverage on SLB in a research report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.28.

Insiders Place Their Bets

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.22% of the company’s stock.

SLB Stock Up 0.8%

SLB stock opened at $36.65 on Friday. SLB Limited has a fifty-two week low of $31.11 and a fifty-two week high of $44.97. The firm has a market capitalization of $54.75 billion, a PE ratio of 14.15, a P/E/G ratio of 10.19 and a beta of 0.97. The company’s 50-day moving average is $34.95 and its 200-day moving average is $34.68. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01.

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

SLB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors 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 dividend on an annualized basis and a dividend yield of 3.1%. SLB’s payout ratio is presently 44.02%.

About SLB

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.