Hilltop National Bank Makes New $332,000 Investment in Schlumberger Limited $SLB

Key Points

• Hilltop National Bank made a new investment of $332,000 in Schlumberger Limited by acquiring 9,816 shares during the second quarter.
• Schlumberger recently reported an EPS of $0.74 for the quarter, surpassing estimates and generating $8.55 billion in revenue despite a 6.5% decline year-over-year.
• The company declared a quarterly dividend of $0.285, representing a 3.3% yield, to be paid on October 9th to stockholders of record on September 3rd.

Hilltop National Bank bought a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,816 shares of the oil and gas company's stock, valued at approximately $332,000.

A number of other institutional investors also recently modified their holdings of SLB. First Command Advisory Services Inc. boosted its stake in shares of Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares during the last quarter. Atticus Wealth Management LLC bought a new stake in shares of Schlumberger in the 2nd quarter valued at $29,000. Atlas Capital Advisors Inc. bought a new stake in shares of Schlumberger in the 1st quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Schlumberger by 55.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company's stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new stake in shares of Schlumberger in the 1st quarter valued at $34,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Performance

Shares of SLB stock opened at $34.26 on Friday. The firm has a 50-day moving average of $34.63 and a 200-day moving average of $35.19. The company has a market cap of $51.17 billion, a P/E ratio of 11.73, a P/E/G ratio of 9.47 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.15.

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

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. Schlumberger's dividend payout ratio is currently 39.04%.

Insider Buying and Selling at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLB. Barclays cut their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Stifel Nicolaus cut their target price on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, Piper Sandler cut their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.18.

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.

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