First Western Trust Bank lifted its stake in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 4.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 255,277 shares of the oil and gas company’s stock after buying an additional 10,244 shares during the quarter. Schlumberger comprises about 0.7% of First Western Trust Bank’s portfolio, making the stock its 12th largest holding. First Western Trust Bank’s holdings in Schlumberger were worth $12,534,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Delta Asset Management LLC TN acquired a new stake in shares of Schlumberger during the fourth quarter worth $26,000. Heritage Wealth Management LLC raised its stake in Schlumberger by 172.3% in the 4th quarter. Heritage Wealth Management LLC now owns 482 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 305 shares in the last quarter. Exos TFP Holdings LLC boosted its holdings in Schlumberger by 269.7% in the 1st quarter. Exos TFP Holdings LLC now owns 536 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 391 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Schlumberger during the 1st quarter worth approximately $25,000. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Schlumberger during the fourth quarter worth approximately $35,000. Institutional investors own 79.43% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on SLB shares. Benchmark restated a “buy” rating and set a $65.00 price objective on shares of Schlumberger in a research note on Monday, July 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $62.00 price target on shares of Schlumberger in a research note on Monday, July 24th. Susquehanna upped their price objective on shares of Schlumberger from $68.00 to $72.00 and gave the stock a “positive” rating in a research report on Thursday, September 7th. Piper Sandler raised their target price on shares of Schlumberger from $64.00 to $77.00 and gave the company an “overweight” rating in a report on Monday. Finally, StockNews.com initiated coverage on shares of Schlumberger in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $66.73.
Insider Buying and Selling at Schlumberger
In other news, EVP Mogharbel Khaled Al sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $60.24, for a total value of $1,807,200.00. Following the transaction, the executive vice president now owns 324,867 shares in the company, valued at approximately $19,569,988.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Schlumberger news, VP Kevin Fyfe sold 7,716 shares of Schlumberger stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $59.34, for a total value of $457,867.44. Following the completion of the sale, the vice president now directly owns 28,316 shares in the company, valued at $1,680,271.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $60.24, for a total transaction of $1,807,200.00. Following the sale, the executive vice president now directly owns 324,867 shares of the company’s stock, valued at approximately $19,569,988.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,805 shares of company stock valued at $9,220,673. 0.23% of the stock is currently owned by company insiders.
Schlumberger Trading Up 0.7 %
Shares of SLB stock traded up $0.42 during trading hours on Tuesday, hitting $61.19. 3,089,720 shares of the company’s stock traded hands, compared to its average volume of 9,525,740. The stock has a market cap of $86.96 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 0.77 and a beta of 1.82. The stock’s 50 day simple moving average is $57.41 and its 200 day simple moving average is $51.54. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 0.60. Schlumberger Limited has a 12 month low of $33.80 and a 12 month high of $62.78.
Schlumberger (NYSE:SLB – Get Free Report) last announced its earnings results on Friday, July 21st. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. Schlumberger had a return on equity of 21.27% and a net margin of 12.63%. The business had revenue of $8.10 billion during the quarter, compared to analyst estimates of $8.20 billion. During the same period last year, the company earned $0.50 EPS. Schlumberger’s revenue for the quarter was up 19.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Schlumberger Limited will post 2.98 EPS for the current year.
Schlumberger Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 6th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.63%. The ex-dividend date is Tuesday, September 5th. Schlumberger’s payout ratio is presently 36.50%.
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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.
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