Schlumberger Limited (NYSE:SLB) Shares Purchased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lifted its holdings in Schlumberger Limited (NYSE:SLB) by 126.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,911 shares of the oil and gas company’s stock after acquiring an additional 30,070 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Schlumberger were worth $2,253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SLB. Alpine Bank Wealth Management acquired a new stake in shares of Schlumberger in the first quarter worth $34,000. True Wealth Design LLC increased its stake in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 842 shares during the period. Mpwm Advisory Solutions LLC acquired a new stake in shares of Schlumberger in the fourth quarter worth $40,000. Sound Income Strategies LLC increased its stake in shares of Schlumberger by 265.4% in the first quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 698 shares during the period. Finally, J.Safra Asset Management Corp acquired a new stake in Schlumberger during the fourth quarter valued at $46,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director La Chevardiere Patrick De sold 5,000 shares of the firm’s 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 sale, the director now owns 23,525 shares of the company’s stock, valued at approximately $789,969.50. The trade was 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.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SLB shares. Stifel Nicolaus dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Piper Sandler dropped their price target on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Wells Fargo & Company dropped their price target on shares of Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, June 5th. Morgan Stanley dropped their price target on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Finally, Barclays dropped their price target on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.38.

Schlumberger Stock Performance

NYSE:SLB opened at $33.21 on Thursday. The company’s 50-day moving average price is $34.51 and its 200-day moving average price is $37.94. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The company has a market cap of $45.17 billion, a P/E ratio of 11.26, a P/E/G ratio of 8.68 and a beta of 1.01. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. On average, sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s dividend payout ratio is currently 38.64%.

About Schlumberger

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.