Edmond DE Rothschild Holding S.A. Lowers Stake in SLB Limited $SLB

Edmond DE Rothschild Holding S.A. trimmed its holdings in shares of SLB Limited (NYSE:SLB) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,693,662 shares of the oil and gas company’s stock after selling 122,072 shares during the quarter. SLB accounts for approximately 2.5% of Edmond DE Rothschild Holding S.A.’s portfolio, making the stock its 8th biggest holding. Edmond DE Rothschild Holding S.A.’s holdings in SLB were worth $158,646,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SLB. Atticus Wealth Management LLC purchased a new position in shares of SLB during the 2nd quarter worth $29,000. Atlas Capital Advisors Inc. bought a new position in SLB in the 1st quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in SLB by 55.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. NewSquare Capital LLC grew its holdings 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 valued at $34,000 after purchasing an additional 341 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new stake in SLB in the first quarter worth about $40,000. 81.99% of the stock is currently owned by institutional investors.

SLB Price Performance

SLB stock opened at $35.82 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.39. The company’s fifty day moving average price is $35.05 and its 200-day moving average price is $34.86. SLB Limited has a one year low of $31.11 and a one year high of $44.97. The company has a market capitalization of $53.51 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The company had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. During the same period in the previous year, the firm posted $0.89 EPS. SLB’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities analysts anticipate that SLB Limited will post 3.38 EPS for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Wednesday, December 3rd will be paid 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 yield of 3.2%. SLB’s dividend payout ratio is presently 44.02%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SLB shares. Piper Sandler set a $42.00 price objective on SLB and gave the company an “overweight” rating in a research report on Monday, October 20th. Zacks Research raised shares of SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Rothschild Redb raised shares of SLB to a “strong-buy” rating in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a research report on Wednesday, October 8th. Finally, Barclays upped their target price on shares of SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.28.

Insider Buying and Selling at SLB

In other SLB news, CFO Stephane Biguet sold 38,447 shares of SLB stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total value of $1,412,927.25. Following the sale, the chief financial officer owned 175,690 shares of the company’s stock, valued at $6,456,607.50. The trade was a 17.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Dianne B. Ralston sold 39,727 shares of the 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 owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 138,174 shares of company stock worth $5,107,677 in the last quarter. 0.22% of the stock is owned by corporate insiders.

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.