Toronto Dominion Bank Raises Stock Position in Schlumberger Limited (NYSE:SLB)

Toronto Dominion Bank raised its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 12.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 808,535 shares of the oil and gas company's stock after acquiring an additional 92,108 shares during the quarter. Toronto Dominion Bank owned approximately 0.06% of Schlumberger worth $30,999,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. YANKCOM Partnership acquired a new position in Schlumberger in the 4th quarter worth about $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger during the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new position in shares of Schlumberger during the 4th quarter valued at approximately $34,000. Hager Investment Management Services LLC acquired a new stake in Schlumberger in the 4th quarter valued at $38,000. Finally, True Wealth Design LLC grew its stake in 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 acquiring an additional 842 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Trading Down 2.0%

Shares of NYSE SLB traded down $0.66 during midday trading on Friday, reaching $33.02. 19,813,989 shares of the stock were exchanged, compared to its average volume of 13,618,169. The stock has a market capitalization of $44.91 billion, a P/E ratio of 10.62, a PEG ratio of 10.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company has a 50 day simple moving average of $35.48 and a 200 day simple moving average of $39.09. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $8.64 billion. During the same period last year, the business earned $0.75 EPS. Schlumberger's revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts expect 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, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is 38.64%.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger 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 sale, the director now directly owns 23,525 shares of the company's stock, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on SLB. Susquehanna decreased their price objective on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Monday, April 28th. Morgan Stanley decreased their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Jefferies Financial Group cut their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and decreased their target price for the company from $46.00 to $44.00 in a research report on Tuesday, April 8th. Finally, Piper Sandler dropped their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.44.

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.