Heritage Trust Co Grows Position in Schlumberger Limited (NYSE:SLB)

Key Points

• Heritage Trust Co increased its stake in Schlumberger Limited by 154.4% in Q1, acquiring an additional 9,442 shares, bringing its total holdings to 15,556 shares valued at approximately $650,000.
• Schlumberger recently reported Q2 earnings with an EPS of $0.74, exceeding analysts' expectations of $0.73, despite a 6.5% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.285 per share, which reflects an annualized dividend yield of 3.5%, payable on October 9th to stockholders of record on September 3rd.

Heritage Trust Co lifted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 154.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,556 shares of the oil and gas company's stock after purchasing an additional 9,442 shares during the quarter. Heritage Trust Co's holdings in Schlumberger were worth $650,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SLB. Scotia Capital Inc. lifted its position in shares of Schlumberger by 5.4% during the first quarter. Scotia Capital Inc. now owns 98,777 shares of the oil and gas company's stock worth $4,129,000 after purchasing an additional 5,073 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Schlumberger by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,085,559 shares of the oil and gas company's stock valued at $45,376,000 after purchasing an additional 29,297 shares during the last quarter. Barings LLC increased its stake in Schlumberger by 102.3% in the first quarter. Barings LLC now owns 127,748 shares of the oil and gas company's stock valued at $5,340,000 after purchasing an additional 64,594 shares during the last quarter. SPC Financial Inc. purchased a new position in shares of Schlumberger during the first quarter worth approximately $228,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. grew its position in Schlumberger by 5.3% in the 1st quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,765 shares of the oil and gas company's stock valued at $2,498,000 after buying an additional 3,002 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on SLB shares. Susquehanna cut 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. JPMorgan Chase & Co. decreased their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Piper Sandler dropped their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Stifel Nicolaus decreased their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Finally, UBS Group raised their price objective on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $49.28.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $33.04 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The stock's fifty day moving average is $34.78 and its 200 day moving average is $37.18. The stock has a market cap of $44.65 billion, a P/E ratio of 11.32, a P/E/G ratio of 9.17 and a beta of 1.03. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.16.

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

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's payout ratio is 39.04%.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the business'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 sale, the director owned 23,525 shares of the company's stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently 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.

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