Edmond DE Rothschild Holding S.A. Has $157.25 Million Stake in SLB Limited $SLB

Edmond DE Rothschild Holding S.A. decreased its position in shares of SLB Limited (NYSE:SLB) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,382,340 shares of the oil and gas company’s stock after selling 274,931 shares during the period. SLB accounts for about 2.1% of Edmond DE Rothschild Holding S.A.’s investment portfolio, making the stock its 10th largest holding. Edmond DE Rothschild Holding S.A. owned 0.23% of SLB worth $157,245,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of SLB during the 2nd quarter valued at $1,339,567,000. Norges Bank acquired a new stake in shares of SLB in the fourth quarter valued at $809,557,000. Wellington Management Group LLP lifted its holdings in shares of SLB by 50.6% in the fourth quarter. Wellington Management Group LLP now owns 16,635,566 shares of the oil and gas company’s stock valued at $638,473,000 after buying an additional 5,589,585 shares during the period. State Street Corp boosted its stake in SLB by 7.0% during the third quarter. State Street Corp now owns 83,617,999 shares of the oil and gas company’s stock valued at $2,898,037,000 after buying an additional 5,466,786 shares in the last quarter. Finally, Capital International Investors boosted its stake in SLB by 86.9% during the fourth quarter. Capital International Investors now owns 11,627,072 shares of the oil and gas company’s stock valued at $446,247,000 after buying an additional 5,404,948 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

SLB News Roundup

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Venezuela expansion opportunity: SLB and Formentera Partners are working to reactivate drilling rigs in Venezuela or bring additional rigs into the country in the coming months. Separately, Venezuela signed agreements with SLB aimed at increasing oil production, potentially creating demand for drilling, well-construction and production services. The opportunity could be meaningful if operations proceed, but its timing depends on regulatory, political and logistical conditions. Reuters article on SLB and Formentera in Venezuela
• Positive Sentiment: Brunei Shell Petroleum contract: SLB won a contract to restore production from shut-in wells across multiple offshore fields. The scope includes subsurface evaluation, well selection, engineering, intervention services, monitoring, metering and offshore execution, providing a broad, integrated services opportunity with Shell-affiliated customer Brunei Shell Petroleum. SLB Brunei Shell Petroleum contract
• Positive Sentiment: Potential upstream spending support: Industry commentary suggests rising upstream investment could benefit SLB through stronger demand for drilling, production and oilfield technology services. This supports the company’s longer-term growth outlook if energy companies continue increasing capital budgets. Upstream spending outlook for SLB

SLB Trading Up 0.8%

NYSE:SLB opened at $53.62 on Thursday. The stock has a fifty day simple moving average of $49.38 and a 200 day simple moving average of $51.18. The firm has a market capitalization of $79.58 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 3.51 and a beta of 0.73. SLB Limited has a 1-year low of $31.64 and a 1-year high of $58.82. The company has a quick ratio of 1.05, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The firm had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter in the previous year, the company earned $0.74 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that SLB Limited will post 2.5 earnings per share for the current year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.295 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.2%. SLB’s payout ratio is currently 57.00%.

Analyst Ratings Changes

Several equities research analysts have commented on SLB shares. JPMorgan Chase & Co. boosted their price target on shares of SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. UBS Group reduced their price objective on shares of SLB from $69.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Susquehanna lifted their price objective on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research note on Monday, July 27th. TD Cowen increased their target price on shares of SLB from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Piper Sandler increased their target price on shares of SLB from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.35.

About SLB

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.