Hanson & Doremus Investment Management Buys 7,477 Shares of Schlumberger Limited (NYSE:SLB)

Hanson & Doremus Investment Management increased its stake in shares of Schlumberger Limited (NYSE:SLB) by 11.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 72,758 shares of the oil and gas company’s stock after acquiring an additional 7,477 shares during the period. Hanson & Doremus Investment Management’s holdings in Schlumberger were worth $3,041,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Schlumberger by 7.4% in 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 purchasing an additional 5,225,828 shares during the last quarter. Geode Capital Management LLC raised its position in Schlumberger by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock valued at $1,146,195,000 after purchasing an additional 1,377,134 shares during the last quarter. Deutsche Bank AG raised its position in Schlumberger by 12.2% in the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock valued at $1,101,804,000 after purchasing an additional 3,119,543 shares during the last quarter. First Eagle Investment Management LLC raised its position in Schlumberger by 1.2% in the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock valued at $1,067,254,000 after purchasing an additional 343,261 shares during the last quarter. Finally, Norges Bank bought a new position in Schlumberger in the 4th quarter valued at $735,398,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 1.9%

NYSE:SLB opened at $36.31 on Monday. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a market cap of $49.38 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 10.10 and a beta of 1.01. The stock has a 50-day moving average price of $34.36 and a two-hundred day moving average price of $38.31.

Schlumberger (NYSE:SLB) 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 analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. As a group, equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.14%. Schlumberger’s payout ratio is 38.64%.

Analyst Ratings Changes

SLB has been the subject of several research analyst reports. Stifel Nicolaus cut their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Susquehanna dropped their target price on Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a research report on Monday, April 28th. Piper Sandler dropped their target price on Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Barclays dropped their target price on Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Finally, Wells Fargo & Company dropped their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating for the company in a research 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 issued a strong buy rating to the stock. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $52.38.

Insider Buying and Selling at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction dated 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 completion of 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 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 the company’s 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 transaction, the director now directly owns 23,525 shares of the company’s stock, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.