Townsend Asset Management Corp NC ADV Purchases 12,509 Shares of Schlumberger Limited (NYSE:SLB)

Townsend Asset Management Corp NC ADV lifted its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 13.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,770 shares of the oil and gas company's stock after acquiring an additional 12,509 shares during the period. Schlumberger makes up about 1.7% of Townsend Asset Management Corp NC ADV's portfolio, making the stock its 15th largest holding. Townsend Asset Management Corp NC ADV's holdings in Schlumberger were worth $4,296,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Autumn Glory Partners LLC bought a new stake in Schlumberger during the first quarter worth $232,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Schlumberger by 162.2% during the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,490 shares of the oil and gas company's stock worth $607,000 after purchasing an additional 8,964 shares during the last quarter. Silver Oak Securities Incorporated bought a new stake in Schlumberger during the first quarter worth $309,000. Boston Trust Walden Corp lifted its stake in Schlumberger by 21.2% during the first quarter. Boston Trust Walden Corp now owns 395,261 shares of the oil and gas company's stock worth $16,522,000 after purchasing an additional 69,017 shares during the last quarter. Finally, Janney Capital Management LLC lifted its stake in Schlumberger by 39.7% during the first quarter. Janney Capital Management LLC now owns 162,408 shares of the oil and gas company's stock worth $6,789,000 after purchasing an additional 46,177 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Buying and Selling at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares of the company's stock, valued at $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director now directly owns 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SLB. Piper Sandler cut their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Barclays lowered their price target on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Stifel Nicolaus lowered their price target 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. Jefferies Financial Group lowered their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Finally, Wells Fargo & Company lowered their price target on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a report on Thursday, June 5th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.38.

Schlumberger Trading Down 0.1%

Shares of Schlumberger stock traded down $0.04 during midday trading on Friday, reaching $35.82. The company had a trading volume of 29,993,139 shares, compared to its average volume of 13,603,827. The stock has a fifty day moving average price of $34.54 and a 200 day moving average price of $38.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. The firm has a market cap of $48.71 billion, a PE ratio of 12.14, a P/E/G ratio of 9.29 and a beta of 1.01. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. Schlumberger's revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. On average, equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.18%. Schlumberger's dividend payout ratio (DPR) is currently 38.64%.

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.