Heartland Bank & Trust Co acquired a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 19,198 shares of the oil and gas company's stock, valued at approximately $802,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. First PREMIER Bank boosted its holdings in shares of Schlumberger by 31.2% during the 1st quarter. First PREMIER Bank now owns 3,467 shares of the oil and gas company's stock valued at $145,000 after acquiring an additional 825 shares in the last quarter. Garde Capital Inc. bought a new position in Schlumberger in the first quarter valued at about $65,000. First American Bank boosted its stake in shares of Schlumberger by 235.0% during the first quarter. First American Bank now owns 47,931 shares of the oil and gas company's stock valued at $2,004,000 after purchasing an additional 33,623 shares in the last quarter. Aspire Private Capital LLC grew its holdings in shares of Schlumberger by 122.6% during the first quarter. Aspire Private Capital LLC now owns 16,065 shares of the oil and gas company's stock worth $672,000 after purchasing an additional 8,848 shares during the last quarter. Finally, Praxis Investment Management Inc. grew its holdings in shares of Schlumberger by 42.1% during the first quarter. Praxis Investment Management Inc. now owns 79,486 shares of the oil and gas company's stock worth $3,323,000 after purchasing an additional 23,550 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.
Insider Activity at Schlumberger
In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director now directly owns 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Piper Sandler cut their price target on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company reduced their price objective on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, June 5th. Morgan Stanley lowered their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Susquehanna cut their target price on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.38.
Check Out Our Latest Stock Report on Schlumberger
Schlumberger Price Performance
Shares of SLB opened at $35.82 on Friday. The firm has a market cap of $48.71 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 9.29 and a beta of 1.01. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The business's 50 day moving average price is $34.54 and its two-hundred day moving average price is $38.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24.
Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The firm's revenue was down 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.
Schlumberger Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.18%. Schlumberger's dividend payout ratio is presently 38.64%.
About Schlumberger
(
Free Report)
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.
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