Nomura Asset Management Co. Ltd. Sells 11,100 Shares of SLB Limited $SLB

Nomura Asset Management Co. Ltd. cut its holdings in SLB Limited (NYSE:SLB) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 502,458 shares of the oil and gas company’s stock after selling 11,100 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in SLB were worth $16,983,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Atticus Wealth Management LLC bought a new stake in shares of SLB during the 2nd quarter valued at approximately $29,000. Atlas Capital Advisors Inc. acquired a new stake in SLB in the first quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of 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 worth $33,000 after buying an additional 350 shares during the last quarter. NewSquare Capital LLC increased its holdings in shares of SLB by 51.4% during the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock worth $34,000 after buying an additional 341 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in shares of SLB in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of several research reports. Rothschild & Co Redburn started coverage on SLB in a research report on Monday, November 3rd. They issued a “buy” rating and a $48.00 target price for the company. Melius assumed coverage on SLB in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Citigroup lifted their target price on shares of SLB from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Piper Sandler set a $42.00 target price on shares of SLB and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Redburn Partners set a $48.00 price target on shares of SLB in a research note on Monday, November 3rd. Two 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.28.

SLB Price Performance

SLB stock opened at $35.90 on Thursday. The stock has a market capitalization of $53.64 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 10.19 and a beta of 0.97. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.97. 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 stock’s 50 day moving average price is $35.03 and its two-hundred day moving average price is $34.81.

SLB (NYSE:SLB) last issued its earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.99 billion. During the same period last year, the business posted $0.89 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities analysts predict that SLB Limited will post 3.38 earnings per share for the current year.

SLB Dividend Announcement

The company also recently disclosed 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 3.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s payout ratio is currently 44.02%.

Insider Transactions at SLB

In other news, CFO Stephane Biguet sold 38,447 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $36.75, for a total value of $1,412,927.25. Following the completion of the sale, the chief financial officer owned 175,690 shares in the company, valued at $6,456,607.50. This represents a 17.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $6,006,692.99. The trade was a 27.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 138,174 shares of company stock worth $5,107,677 in the last quarter. 0.22% of the stock is currently owned by corporate insiders.

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.