Busey Wealth Management trimmed its position in shares of Schlumberger Limited (NYSE:SLB – Get Rating) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 163,405 shares of the oil and gas company’s stock after selling 9,923 shares during the quarter. Busey Wealth Management’s holdings in Schlumberger were worth $6,751,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. David J Yvars Group purchased a new stake in shares of Schlumberger in the first quarter valued at $5,731,000. Providence First Trust Co purchased a new stake in shares of Schlumberger in the first quarter valued at $212,000. Lindbrook Capital LLC lifted its position in shares of Schlumberger by 17.9% in the first quarter. Lindbrook Capital LLC now owns 2,983 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 452 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Schlumberger in the first quarter valued at $29,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Schlumberger in the first quarter valued at $243,000. Institutional investors and hedge funds own 76.34% of the company’s stock.
In other Schlumberger news, Director Vijay Kasibhatla sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $43.32, for a total transaction of $866,400.00. Following the completion of the sale, the director now owns 46,529 shares in the company, valued at approximately $2,015,636.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $17.00, for a total value of $204,552,500.00. Following the sale, the insider now owns 23,069,461 shares of the company’s stock, valued at approximately $392,180,837. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,567,459 shares of company stock valued at $430,840,521. Insiders own 0.28% of the company’s stock.
Schlumberger (NYSE:SLB – Get Rating) last posted its earnings results on Friday, April 22nd. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Schlumberger had a return on equity of 14.02% and a net margin of 8.84%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same quarter last year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, equities analysts expect that Schlumberger Limited will post 1.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 14th. Stockholders of record on Wednesday, June 1st will be paid a $0.175 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.13. Schlumberger’s dividend payout ratio (DPR) is 47.62%.
SLB has been the topic of several recent analyst reports. HSBC upgraded Schlumberger from a “hold” rating to a “buy” rating and increased their target price for the stock from $4.60 to $44.20 in a research report on Wednesday, April 27th. Stifel Nicolaus increased their target price on Schlumberger from $44.00 to $50.00 in a research report on Friday, April 8th. Wells Fargo & Company reduced their target price on Schlumberger from $56.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Piper Sandler upgraded Schlumberger from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $43.00 to $55.00 in a research report on Monday, April 11th. Finally, Morgan Stanley increased their target price on Schlumberger from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, April 11th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.85.
Schlumberger Company Profile (Get Rating)
Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.
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