Schlumberger Limited (NYSE:SLB) Position Increased by Community Trust & Investment Co.

Community Trust & Investment Co. raised its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 14.1% during the 1st quarter, according to its most recent disclosure 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 period. Community Trust & Investment Co.'s holdings in Schlumberger were worth $16,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sound Income Strategies LLC grew its stake in shares of Schlumberger by 265.4% during the first quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock worth $40,000 after acquiring an additional 698 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after acquiring an additional 842 shares during the last quarter. Bogart Wealth LLC grew its stake in shares of Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock worth $39,000 after acquiring an additional 844 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth about $40,000. Finally, J.Safra Asset Management Corp purchased a new stake in Schlumberger in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Stock Down 0.6%

SLB traded down $0.23 on Thursday, reaching $35.85. The company's stock had a trading volume of 17,576,558 shares, compared to its average volume of 13,593,607. The stock has a market cap of $48.76 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 9.35 and a beta of 1.01. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. The business's 50 day moving average is $34.43 and its 200 day moving average is $38.22.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The company's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. As a group, research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio is currently 38.64%.

Insider Buying and Selling at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director La Chevardiere Patrick De sold 5,000 shares of the 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 sale, the director now owns 23,525 shares of the company's stock, valued at $789,969.50. The trade was a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays dropped 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. Morgan Stanley dropped their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Wells Fargo & Company dropped their target price on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, June 5th. Stifel Nicolaus dropped their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Piper Sandler dropped their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.38.

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.