Inspire Trust Co. N.A. Makes New $4.10 Million Investment in Schlumberger Limited (NYSE:SLB)

Key Points

• Inspire Trust Co. N.A. has made a new investment in Schlumberger Limited, acquiring 98,000 shares valued at approximately $4.10 million.
• Schlumberger recently declared a quarterly dividend of $0.285, with an annualized yield of 3.4%, payable on October 9th.
• Wall Street analysts have varied opinions on Schlumberger's stock, with a consensus rating of "Moderate Buy" and an average price target of $49.28.

Inspire Trust Co. N.A. purchased a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 98,000 shares of the oil and gas company's stock, valued at approximately $4,096,000.

A number of other large investors have also recently bought and sold shares of the company. First Command Advisory Services Inc. boosted its holdings 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 buying an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Schlumberger in the 1st quarter valued at approximately $33,000. Alpine Bank Wealth Management acquired a new stake in shares of Schlumberger in the 1st quarter valued at approximately $34,000. True Wealth Design LLC boosted its holdings in shares of Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after buying an additional 842 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in shares of Schlumberger in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SLB. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. UBS Group increased their price objective on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Wells Fargo & Company cut Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Morgan Stanley dropped their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Finally, Susquehanna dropped their price target on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $49.28.

Insider Buying and Selling

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 stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the transaction, the director owned 23,525 shares of the company's stock, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Up 1.8%

SLB stock opened at $33.54 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market capitalization of $45.32 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 9.14 and a beta of 1.03. The business's fifty day moving average price is $34.68 and its two-hundred day moving average price is $36.72. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.16.

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

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is 39.04%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.