Brown Advisory Inc. Lowers Stake in SLB Limited $SLB

Brown Advisory Inc. cut its stake in SLB Limited (NYSE:SLB) by 9.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,228,270 shares of the oil and gas company’s stock after selling 133,550 shares during the period. Brown Advisory Inc. owned about 0.09% of SLB worth $41,516,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC boosted its holdings in shares of SLB by 2.2% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 14,382 shares of the oil and gas company’s stock worth $486,000 after purchasing an additional 308 shares in the last quarter. EntryPoint Capital LLC lifted its position in SLB by 4.5% in the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after buying an additional 316 shares during the last quarter. Horizon Investments LLC boosted its stake in SLB by 1.5% in the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock worth $946,000 after buying an additional 330 shares in the last quarter. CreativeOne Wealth LLC grew its position in SLB by 6.3% during the first quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after acquiring an additional 335 shares during the last quarter. Finally, NewSquare Capital LLC grew its position 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 acquiring an additional 341 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

SLB Stock Performance

SLB stock opened at $38.50 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The firm has a market cap of $57.52 billion, a P/E ratio of 14.86 and a beta of 0.73. SLB Limited has a 1-year low of $31.11 and a 1-year high of $44.66. The firm has a 50-day moving average of $35.41 and a 200-day moving average of $34.94.

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 return on equity of 18.97% and a net margin of 10.34%.The company had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter in the previous year, the business earned $0.89 EPS. SLB’s revenue was down 2.5% compared to the same quarter last year. Sell-side analysts expect that SLB Limited will post 3.38 EPS for the current year.

SLB Dividend Announcement

The firm 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 $0.285 dividend. 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 3.0%. SLB’s dividend payout ratio (DPR) is presently 44.02%.

Analyst Ratings Changes

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

Insider Activity at SLB

In other SLB news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the transaction, the executive vice president directly owned 159,371 shares of the company’s stock, valued at approximately $6,006,692.99. The trade was a 27.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter John Coleman sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total transaction of $197,010.00. Following the completion of the sale, the director directly owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. This represents a 22.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 143,674 shares of company stock worth $5,304,687. 0.22% of the stock is currently owned by 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.