Whittier Trust Co. Buys 669 Shares of Schlumberger Limited (NYSE:SLB)

Whittier Trust Co. raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 12.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,167 shares of the oil and gas company’s stock after purchasing an additional 669 shares during the quarter. Whittier Trust Co.’s holdings in Schlumberger were worth $291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Carolinas Wealth Consulting LLC increased its stake in Schlumberger by 53.5% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 683 shares in the last quarter. Crescent Grove Advisors LLC acquired a new position in Schlumberger in the second quarter valued at about $257,000. National Bank of Canada FI grew its stake in Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after acquiring an additional 51,637 shares during the period. Mission Wealth Management LP acquired a new stake in shares of Schlumberger during the first quarter worth about $245,000. Finally, Canada Pension Plan Investment Board raised its position 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 worth $43,217,000 after purchasing an additional 64,974 shares during the period. 81.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Bank of America lowered their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. TD Cowen increased their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Benchmark reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Piper Sandler reduced their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Evercore ISI increased their target price on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Schlumberger Trading Up 1.0 %

SLB stock opened at $44.18 on Friday. The stock has a market cap of $63.15 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 0.96 and a beta of 1.55. The company has a fifty day moving average price of $46.17 and a two-hundred day moving average price of $48.23. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter last year, the company earned $0.72 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts anticipate that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.49%. Schlumberger’s dividend payout ratio is presently 36.54%.

Insiders Place Their Bets

In other news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the sale, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. Insiders have sold a total of 185,696 shares of company stock worth $9,264,905 in the last 90 days. Company insiders own 0.26% of the company’s stock.

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.