Schlumberger Limited $SLB Shares Bought by First American Bank

First American Bank raised its stake in Schlumberger Limited (NYSE:SLB) by 8.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 51,894 shares of the oil and gas company’s stock after buying an additional 3,963 shares during the period. First American Bank’s holdings in Schlumberger were worth $1,754,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. First Command Advisory Services Inc. grew its holdings in shares of Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 477 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Schlumberger in the 1st quarter valued at about $33,000. Alpine Bank Wealth Management purchased a new stake in shares of Schlumberger in the 1st quarter valued at approximately $34,000. Atticus Wealth Management LLC acquired a new stake in shares of Schlumberger during the 2nd quarter worth approximately $29,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of Schlumberger during the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 2.7%

Shares of SLB opened at $35.51 on Friday. The company’s 50-day simple moving average is $34.65 and its 200-day simple moving average is $35.40. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.15. The stock has a market capitalization of $53.04 billion, a PE ratio of 12.16, a P/E/G ratio of 9.60 and a beta of 1.05.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 earnings per share. Analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. Schlumberger’s dividend payout ratio is currently 39.04%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SLB shares. Zacks Research upgraded Schlumberger from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Melius Research initiated coverage on Schlumberger in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target for the company. Wells Fargo & Company downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Piper Sandler reduced their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Finally, UBS Group lowered their target price on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.18.

Insider Activity

In related news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.22% 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.