Equitable Trust Co. Boosts Holdings in Schlumberger Limited (NYSE:SLB)

Equitable Trust Co. boosted its stake in Schlumberger Limited (NYSE:SLB) by 33.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 10,830 shares of the oil and gas company’s stock after acquiring an additional 2,727 shares during the period. Equitable Trust Co.’s holdings in Schlumberger were worth $454,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Crescent Grove Advisors LLC purchased a new stake in Schlumberger during the 2nd quarter worth about $257,000. National Bank of Canada FI grew its holdings in shares of Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after buying an additional 51,637 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Schlumberger by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after buying an additional 11,813 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Schlumberger by 9.0% during the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after buying an additional 64,974 shares during the period. Finally, Townsend Asset Management Corp NC ADV acquired a new stake in Schlumberger during the third quarter worth approximately $2,063,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Down 0.1 %

Shares of NYSE:SLB opened at $43.18 on Monday. The company has a 50 day moving average of $42.21 and a two-hundred day moving average of $44.87. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $60.98 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. As a group, analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on SLB. Susquehanna cut their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Bank of America dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Citigroup decreased their target price on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Finally, Piper Sandler dropped their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger 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.