Community Trust & Investment Co. Has $13.84 Million Position in Schlumberger Limited $SLB

Key Points

• Community Trust & Investment Co. increased its holdings in Schlumberger Limited by 6.6%, owning 409,360 shares valued at approximately $13.8 million.
• Several hedge funds, including Charles Schwab Investment Management, significantly increased their positions in Schlumberger, showcasing strong institutional interest.
• Analysts have mixed targets for Schlumberger, with a consensus rating of "Moderate Buy" and an average price target of $52.18.

Community Trust & Investment Co. raised its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 409,360 shares of the oil and gas company's stock after purchasing an additional 25,346 shares during the quarter. Community Trust & Investment Co.'s holdings in Schlumberger were worth $13,836,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Schlumberger by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after buying an additional 1,166 shares during the period. Bison Wealth LLC bought a new position in shares of Schlumberger during the 4th quarter worth $238,000. Tidal Investments LLC grew its position in shares of Schlumberger by 60.4% during the 4th quarter. Tidal Investments LLC now owns 145,054 shares of the oil and gas company's stock worth $5,561,000 after buying an additional 54,637 shares in the last quarter. Twinbeech Capital LP bought a new stake in Schlumberger during the fourth quarter valued at about $357,000. Finally, Vident Advisory LLC boosted its position in Schlumberger by 1.0% during the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after purchasing an additional 273 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Down 0.8%

Shares of SLB stock traded down $0.27 during mid-day trading on Friday, hitting $34.47. 33,102,000 shares of the company's stock were exchanged, compared to its average volume of 15,493,405. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15. The stock has a 50-day simple moving average of $34.66 and a two-hundred day simple moving average of $35.57. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The stock has a market cap of $51.49 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 9.56 and a beta of 1.05.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business's revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. Equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Susquehanna decreased their price target on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Melius assumed coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective on the stock. UBS Group lowered their price target on Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Barclays reduced their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.18.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares of the company's stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% 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.