Community Trust & Investment Co. Raises Stock Holdings in Schlumberger Limited (NYSE:SLB)

Community Trust & Investment Co. grew its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 14.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,014 shares of the oil and gas company's stock after purchasing an additional 47,528 shares during the quarter. Community Trust & Investment Co.'s holdings in Schlumberger were worth $16,052,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. True Wealth Design LLC lifted its position in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 842 shares in the last quarter. Bogart Wealth LLC raised its stake in Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 844 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Schlumberger in the 4th quarter valued at about $40,000. Sound Income Strategies LLC boosted its stake in shares of Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock worth $40,000 after purchasing an additional 698 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Schlumberger during the fourth quarter worth about $46,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Trading Down 1.1%

SLB traded down $0.40 during trading on Monday, hitting $35.90. 16,100,774 shares of the company's stock were exchanged, compared to its average volume of 13,555,064. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The stock has a 50 day moving average price of $34.36 and a 200 day moving average price of $38.31. The firm has a market cap of $48.84 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 10.10 and a beta of 1.01. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same period last year, the company posted $0.75 earnings per share. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. As a group, analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business 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 is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.18%. Schlumberger's dividend payout ratio (DPR) is currently 38.64%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SLB shares. Wells Fargo & Company decreased their target price on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, June 5th. Piper Sandler reduced their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Jefferies Financial Group lowered their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. Barclays reduced their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Finally, Susquehanna decreased their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.38.

Insider Activity at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the company'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 completion of the transaction, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction on Friday, March 28th. The shares were 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. Company insiders own 0.26% of the company's stock.

Schlumberger 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.