US Bancorp DE Purchases 321,078 Shares of Schlumberger Limited (NYSE:SLB)

US Bancorp DE grew its holdings in shares of Schlumberger Limited (NYSE:SLBFree Report) by 64.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 820,154 shares of the oil and gas company’s stock after buying an additional 321,078 shares during the period. US Bancorp DE owned 0.06% of Schlumberger worth $42,681,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CI Investments Inc. lifted its stake in Schlumberger by 4.9% in the third quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock worth $241,000 after acquiring an additional 192 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Schlumberger by 0.6% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 34,414 shares of the oil and gas company’s stock worth $2,007,000 after purchasing an additional 206 shares during the last quarter. Investment Advisory Services Inc. TX ADV grew its stake in shares of Schlumberger by 1.9% during the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 12,196 shares of the oil and gas company’s stock worth $635,000 after purchasing an additional 228 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in Schlumberger by 7.0% in the fourth quarter. Horizon Bancorp Inc. IN now owns 3,586 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 236 shares during the last quarter. Finally, Ancora Advisors LLC raised its stake in Schlumberger by 3.6% in the third quarter. Ancora Advisors LLC now owns 6,819 shares of the oil and gas company’s stock valued at $398,000 after buying an additional 240 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the completion of the transaction, the insider now directly owns 45,851 shares in the company, valued at $2,213,686.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the sale, the insider now owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. In the last three months, insiders sold 157,428 shares of company stock valued at $7,613,612. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Royal Bank of Canada lifted their price target on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Susquehanna restated a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Finally, TD Cowen reduced their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.72.

Check Out Our Latest Stock Report on Schlumberger

Schlumberger Stock Down 0.2 %

SLB stock traded down $0.08 during trading on Friday, reaching $46.24. The stock had a trading volume of 6,800,987 shares, compared to its average volume of 8,633,589. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average price of $50.92 and a 200 day moving average price of $50.80. The company has a market capitalization of $66.09 billion, a P/E ratio of 15.36, a PEG ratio of 0.89 and a beta of 1.64. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12.

Schlumberger (NYSE:SLBGet Free Report) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Schlumberger Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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