Rockland Trust Co. Purchases 50,396 Shares of Schlumberger Limited $SLB

Key Points

• Rockland Trust Co. increased its ownership of Schlumberger Limited by 13.6%, acquiring 50,396 shares for a total of 421,271 shares, valued at approximately $14.24 million.
• Schlumberger announced a quarterly dividend of $0.285 per share, with a yield of 3.3%, to be paid on October 9th.
• Analysts show a mixed outlook for Schlumberger, with ratings ranging from "Strong Buy" to "Hold," while the average price target is $52.18.

Rockland Trust Co. raised its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 13.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 421,271 shares of the oil and gas company's stock after acquiring an additional 50,396 shares during the quarter. Rockland Trust Co.'s holdings in Schlumberger were worth $14,239,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vident Advisory LLC raised its position in shares of Schlumberger by 1.0% during the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after buying an additional 273 shares in the last quarter. Glen Eagle Advisors LLC grew its holdings in Schlumberger by 3.7% during the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock valued at $301,000 after purchasing an additional 282 shares during the last quarter. EntryPoint Capital LLC grew its holdings in Schlumberger by 4.5% during the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock valued at $307,000 after purchasing an additional 316 shares during the last quarter. Heritage Wealth Management Inc. Texas grew its holdings in Schlumberger by 2.2% during the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock valued at $616,000 after purchasing an additional 318 shares during the last quarter. Finally, Horizon Investments LLC grew its holdings in Schlumberger by 1.5% during the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company's stock valued at $946,000 after purchasing an additional 330 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Activity

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company's stock, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SLB. Melius Research began coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 price objective on the stock. Zacks Research raised shares of Schlumberger from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. Stifel Nicolaus decreased their price target on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Wells Fargo & Company lowered shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, UBS Group dropped their price target on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.18.

Schlumberger Stock Down 1.4%

Shares of NYSE:SLB traded down $0.48 during midday trading on Monday, reaching $33.95. The company had a trading volume of 19,111,190 shares, compared to its average volume of 16,347,402. 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's fifty day moving average price is $34.62 and its 200-day moving average price is $35.49. The stock has a market capitalization of $50.71 billion, a P/E ratio of 11.63, a PEG ratio of 9.56 and a beta of 1.05. 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 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. The business 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 company's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. Equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

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