11,677 Shares in Schlumberger Limited (NYSE:SLB) Purchased by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. purchased a new stake in Schlumberger Limited (NYSE:SLB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,677 shares of the oil and gas company’s stock, valued at approximately $551,000.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Schlumberger by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after acquiring an additional 1,868,688 shares during the last quarter. Capital World Investors lifted its stake in Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares in the last quarter. Norges Bank bought a new position in shares of Schlumberger during the 4th quarter valued at about $1,000,292,000. Finally, Capital International Investors raised its holdings in shares of Schlumberger by 0.6% during the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after buying an additional 89,483 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Insiders sold a total of 223,779 shares of company stock valued at $11,103,553 over the last three months. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SLB. TD Cowen upped their target price on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Piper Sandler cut their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Citigroup decreased their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Two 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.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $67.56.

Schlumberger Price Performance

Shares of SLB stock opened at $43.77 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a market cap of $62.15 billion, a P/E ratio of 14.54, a P/E/G ratio of 0.93 and a beta of 1.55. The business’s 50 day moving average price is $46.06 and its 200-day moving average price is $48.55. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

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.