Deutsche Bank AG Sells 435,466 Shares of SLB Limited $SLB

Deutsche Bank AG trimmed its position in shares of SLB Limited (NYSE:SLB) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,373,025 shares of the oil and gas company’s stock after selling 435,466 shares during the period. Deutsche Bank AG owned approximately 1.76% of SLB worth $1,012,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. Strategic Wealth Advisors LLC bought a new position in SLB during the fourth quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of SLB in the 4th quarter worth approximately $31,000. Steph & Co. raised its holdings in shares of SLB by 97.5% in the 4th quarter. Steph & Co. now owns 798 shares of the oil and gas company’s stock worth $31,000 after buying an additional 394 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new position in shares of SLB in the 4th quarter worth approximately $31,000. Finally, Bruce G. Allen Investments LLC raised its holdings in shares of SLB by 37.0% in the 4th quarter. Bruce G. Allen Investments LLC now owns 841 shares of the oil and gas company’s stock worth $32,000 after buying an additional 227 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SLB shares. Jefferies Financial Group reissued a “buy” rating and issued a $65.00 target price on shares of SLB in a report on Sunday, April 26th. Piper Sandler increased their target price on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Sanford C. Bernstein increased their target price on SLB from $56.10 to $71.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Stifel Nicolaus increased their target price on SLB from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Morgan Stanley set a $57.00 target price on SLB in a report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.67.

Insider Buying and Selling

In related news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the sale, the executive vice president directly owned 47,421 shares in the company, valued at $2,664,111.78. This represents a 52.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $54.33, for a total value of $108,660.00. Following the sale, the director owned 16,953 shares in the company, valued at approximately $921,056.49. This trade represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.16% of the stock is owned by corporate insiders.

SLB Stock Down 1.3%

NYSE SLB opened at $55.80 on Wednesday. The firm has a market cap of $83.42 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.29 and a beta of 0.70. SLB Limited has a one year low of $31.64 and a one year high of $58.82. The stock’s 50 day simple moving average is $54.35 and its 200 day simple moving average is $48.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.

SLB (NYSE:SLB) last released its quarterly earnings results on Saturday, April 25th. The oil and gas company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.SLB’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. As a group, sell-side analysts forecast that SLB Limited will post 2.62 earnings per share for the current fiscal year.

SLB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.18 dividend on an annualized basis and a yield of 2.1%. SLB’s dividend payout ratio is 51.53%.

SLB Profile

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.