Schlumberger Limited (NYSE:SLB) Shares Sold by Bank & Trust Co

Bank & Trust Co cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 9.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,040 shares of the oil and gas company’s stock after selling 398 shares during the period. Bank & Trust Co’s holdings in Schlumberger were worth $155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. ORG Partners LLC increased its holdings in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger in the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new position in Schlumberger during the 3rd quarter worth about $37,000. DiNuzzo Private Wealth Inc. boosted its holdings in Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares during the period. Finally, J. Stern & Co. LLP acquired a new position in Schlumberger in the 3rd quarter valued at about $47,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 1.4 %

Shares of NYSE:SLB traded up $0.54 during midday trading on Tuesday, reaching $39.30. The company’s stock had a trading volume of 2,771,222 shares, compared to its average volume of 8,196,851. The business has a 50 day moving average price of $41.07 and a 200 day moving average price of $43.27. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The firm has a market cap of $55.50 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the firm posted $0.78 EPS. The company’s revenue was up 10.2% on a year-over-year basis. Research analysts forecast that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.80%. Schlumberger’s payout ratio is currently 35.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Piper Sandler assumed coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. TD Cowen reduced their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company dropped their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Evercore ISI reduced their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. dropped their price objective on Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.25.

Schlumberger Company 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.