Brown Advisory Inc. Lowers Stock Position in SLB Limited $SLB

Brown Advisory Inc. lessened its holdings in shares of SLB Limited (NYSE:SLB) by 9.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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.’s holdings in SLB were worth $41,516,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SLB. Nuveen LLC bought a new position in shares of SLB during the first quarter valued at $169,232,000. Assetmark Inc. boosted its stake in SLB by 19.5% in the 2nd quarter. Assetmark Inc. now owns 56,561 shares of the oil and gas company’s stock worth $1,912,000 after purchasing an additional 9,210 shares in the last quarter. Shell Asset Management Co. grew its position in SLB by 48.1% during the 2nd quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company’s stock valued at $2,121,000 after purchasing an additional 20,387 shares during the last quarter. Godsey & Gibb Inc. increased its stake in SLB by 9.6% during the 2nd quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company’s stock valued at $16,667,000 after purchasing an additional 43,135 shares in the last quarter. Finally, Emerald Advisors LLC purchased a new position in SLB in the second quarter worth about $352,000. 81.99% of the stock is currently owned by institutional investors.

SLB Stock Performance

Shares of SLB opened at $38.50 on Friday. The firm has a market capitalization of $57.52 billion, a P/E ratio of 14.86 and a beta of 0.73. 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 Limited has a one year low of $31.11 and a one year high of $44.66. The business has a fifty day moving average of $35.41 and a 200 day moving average of $34.94.

SLB (NYSE:SLB) last announced its earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. The business had revenue of $8.93 billion for 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%.The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.89 earnings per share. As a group, sell-side analysts anticipate that SLB Limited will post 3.38 EPS for the current year.

SLB Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio is currently 44.02%.

Insider Buying and Selling at SLB

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total value 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. This trade represents 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 this link. Also, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 143,674 shares of company stock valued at $5,304,687 over the last three months. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SLB shares. UBS Group reiterated a “buy” rating and set a $44.00 price target on shares of SLB in a report on Tuesday, October 21st. JPMorgan Chase & Co. cut their target price on SLB from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Rothschild Redb upgraded SLB to a “strong-buy” rating in a research note on Monday, November 3rd. Citigroup upped their price target on SLB from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.28.

SLB 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.