Farmers Trust Co. Purchases 30,867 Shares of Schlumberger Limited (NYSE:SLB)

Farmers Trust Co. increased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 48.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,995 shares of the oil and gas company's stock after buying an additional 30,867 shares during the quarter. Farmers Trust Co.'s holdings in Schlumberger were worth $3,971,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. YANKCOM Partnership acquired a new stake in shares of Schlumberger during the 4th quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth $34,000. True Wealth Design LLC increased its position in 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 buying an additional 842 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new position in Schlumberger during the fourth quarter worth $38,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Performance

Schlumberger stock traded down $0.66 during trading hours on Friday, hitting $33.02. The company had a trading volume of 20,666,010 shares, compared to its average volume of 13,502,204. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The firm has a 50-day moving average of $35.29 and a 200 day moving average of $39.01. The firm has a market cap of $44.91 billion, a PE ratio of 10.62, a PEG ratio of 10.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results 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). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The business's 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 year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.45%. Schlumberger's payout ratio is 38.64%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SLB shares. Morgan Stanley lowered their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Barclays reduced their target price on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Piper Sandler reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Jefferies Financial Group reduced their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Finally, Susquehanna cut their price target on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $52.44.

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 transaction, the director now 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 is accessible through this link. Also, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction dated Friday, March 28th. The stock was 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. 0.26% of the stock is owned by company insiders.

About Schlumberger

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.