Davidson Trust Co. Makes New $312,000 Investment in Schlumberger Limited (NYSE:SLB)

Davidson Trust Co. acquired a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,471 shares of the oil and gas company's stock, valued at approximately $312,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after acquiring an additional 5,225,828 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after buying an additional 1,377,134 shares in the last quarter. Deutsche Bank AG lifted its holdings in Schlumberger by 12.2% during the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after buying an additional 3,119,543 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in Schlumberger by 1.2% during the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company's stock worth $1,067,254,000 after buying an additional 343,261 shares in the last quarter. Finally, Norges Bank acquired a new position in Schlumberger during the 4th quarter worth $735,398,000. Institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several research reports. Morgan Stanley reduced their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Piper Sandler reduced their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Barclays reduced their price objective on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, Susquehanna dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $50.85.

Schlumberger Trading Down 0.8%

Shares of SLB traded down $0.29 during trading hours on Friday, reaching $35.63. The stock had a trading volume of 7,240,714 shares, compared to its average volume of 13,775,893. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The firm has a 50-day moving average of $34.51 and a 200 day moving average of $37.69. The company has a market cap of $48.46 billion, a P/E ratio of 12.08, a P/E/G ratio of 9.40 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The firm had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the prior year, the company earned $0.75 EPS. Schlumberger's quarterly revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio is currently 38.64%.

Insider Activity at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the transaction, the director owned 23,525 shares in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

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.