Grove Bank & Trust Grows Position in Schlumberger Limited (NYSE:SLB)

Grove Bank & Trust lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 24.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,887 shares of the oil and gas company’s stock after purchasing an additional 373 shares during the quarter. Grove Bank & Trust’s holdings in Schlumberger were worth $72,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC lifted its stake in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Schlumberger in the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger in the 3rd quarter valued at about $37,000. DiNuzzo Private Wealth Inc. raised its position in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in Schlumberger in the 3rd quarter valued at about $47,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group cut their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Citigroup cut their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price target on Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. BMO Capital Markets dropped their price target on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Stifel Nicolaus dropped their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.03.

Schlumberger Stock Up 6.1 %

SLB opened at $43.58 on Tuesday. The business’s fifty day moving average is $40.86 and its two-hundred day moving average is $42.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The company has a market cap of $61.54 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.35 and a beta of 1.52. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. Analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is currently 35.37%.

Schlumberger Company 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.