Rockland Trust Co. Buys 40,746 Shares of Schlumberger Limited (NYSE:SLB)

Rockland Trust Co. boosted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 12.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 370,875 shares of the oil and gas company's stock after buying an additional 40,746 shares during the period. Rockland Trust Co.'s holdings in Schlumberger were worth $15,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in Schlumberger during the 4th quarter valued at approximately $735,398,000. Price T Rowe Associates Inc. MD grew its holdings in Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after buying an additional 5,225,828 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Schlumberger by 3,112.1% during the fourth quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock valued at $139,059,000 after buying an additional 3,514,134 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Schlumberger by 12.2% in the fourth quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after buying an additional 3,119,543 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Schlumberger by 43,028.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after acquiring an additional 2,646,653 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Up 1.9%

NYSE SLB traded up $0.68 during trading on Friday, hitting $36.31. The stock had a trading volume of 15,378,704 shares, compared to its average volume of 13,541,557. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The stock has a 50 day simple moving average of $34.27 and a 200 day simple moving average of $38.43. The stock has a market capitalization of $49.38 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 10.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share 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 business had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company's quarterly revenue was down 2.5% compared to the same quarter last year. Sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th 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 3.14%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio is currently 38.64%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler cut their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Morgan Stanley dropped their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Barclays reduced their price objective on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Susquehanna decreased their price objective on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Monday, April 28th. Finally, Stifel Nicolaus cut their target price on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and a consensus target price of $52.38.

Insider Buying and Selling

In other news, insider Aparna Raman sold 25,133 shares of the stock in a transaction on 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 transaction, the insider now owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director now owns 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 disclosure for this sale can be found here. 0.26% of the stock is currently owned by 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.