Farmers Trust Co. Buys 666 Shares of Schlumberger Limited (NYSE:SLB)

Farmers Trust Co. lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,128 shares of the oil and gas company’s stock after purchasing an additional 666 shares during the period. Farmers Trust Co.’s holdings in Schlumberger were worth $2,459,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Douglas Lane & Associates LLC raised its position in Schlumberger by 30.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 1,362,494 shares of the oil and gas company’s stock worth $52,238,000 after acquiring an additional 319,968 shares in the last quarter. InvesTrust acquired a new position in shares of Schlumberger during the 4th quarter worth about $3,961,000. Fulton Bank N.A. raised its holdings in shares of Schlumberger by 5.9% in the 4th quarter. Fulton Bank N.A. now owns 18,518 shares of the oil and gas company’s stock valued at $710,000 after purchasing an additional 1,029 shares during the period. Sterneck Capital Management LLC acquired a new stake in Schlumberger in the 4th quarter valued at about $259,000. Finally, Diversified Trust Co grew its holdings in Schlumberger by 7.4% during the fourth quarter. Diversified Trust Co now owns 19,344 shares of the oil and gas company’s stock worth $742,000 after purchasing an additional 1,331 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

NYSE:SLB traded down $0.76 on Wednesday, hitting $38.61. The company had a trading volume of 8,478,346 shares, compared to its average volume of 9,443,664. The firm has a 50 day moving average of $41.05 and a two-hundred day moving average of $43.22. The stock has a market capitalization of $54.52 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.42 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. On average, research analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.85%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company cut their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. BMO Capital Markets cut their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.58.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction 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. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

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.