Camden National Bank Grows Stake in Schlumberger Limited (NYSE:SLB)

Camden National Bank raised its stake in Schlumberger Limited (NYSE:SLB) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,559 shares of the oil and gas company’s stock after acquiring an additional 587 shares during the quarter. Camden National Bank’s holdings in Schlumberger were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after buying an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after buying an additional 16,350 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Schlumberger by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after buying an additional 65,318 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its stake in shares of Schlumberger by 502.6% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock valued at $7,592,000 after buying an additional 165,162 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after buying an additional 14,376 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Jefferies Financial Group lowered their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Citigroup increased their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Six research 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Activity at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. This trade represents a 38.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the sale, the insider now directly owns 235,024 shares in the company, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 290,772 shares of company stock valued at $12,546,660. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

SLB stock opened at $41.36 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The firm’s fifty day moving average is $40.73 and its 200 day moving average is $41.66. The firm has a market cap of $56.25 billion, a P/E ratio of 13.30, a P/E/G ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same quarter last year, the firm earned $0.86 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.76%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

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.