AMG National Trust Bank Purchases 18,835 Shares of Schlumberger Limited (NYSE:SLB)

AMG National Trust Bank raised its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 69.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,151 shares of the oil and gas company's stock after purchasing an additional 18,835 shares during the quarter. AMG National Trust Bank's holdings in Schlumberger were worth $1,929,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in Schlumberger in the 4th quarter valued at $735,398,000. Price T Rowe Associates Inc. MD boosted its stake in Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after purchasing an additional 5,225,828 shares during the period. Lazard Asset Management LLC boosted its stake in Schlumberger by 3,112.1% in the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock valued at $139,059,000 after purchasing an additional 3,514,134 shares during the period. Deutsche Bank AG raised its holdings in Schlumberger by 12.2% in the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after acquiring an additional 3,119,543 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Schlumberger by 43,028.0% in the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock valued at $101,708,000 after acquiring an additional 2,646,653 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Down 3.7%

Shares of Schlumberger stock opened at $33.37 on Friday. The company has a market capitalization of $45.39 billion, a P/E ratio of 11.43, a P/E/G ratio of 8.96 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The company has a fifty day moving average of $34.86 and a 200 day moving average of $37.53. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.52.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. Schlumberger's quarterly revenue was down 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.42%. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

Analysts Set New Price Targets

SLB has been the subject of a number of research analyst reports. Morgan Stanley lowered their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. UBS Group boosted their price target on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Wells Fargo & Company lowered their price target on Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a report on Thursday, June 5th. Piper Sandler reduced their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, Stifel Nicolaus reduced their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $50.56.

Insider Activity at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the sale, the director directly owned 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

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.

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