Webster Bank N. A. Has $153,000 Position in Schlumberger Limited (NYSE:SLB)

Webster Bank N. A. trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB) by 17.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,798 shares of the oil and gas company’s stock after selling 575 shares during the period. Webster Bank N. A.’s holdings in Schlumberger were worth $153,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Register Financial Advisors LLC bought a new position in Schlumberger in the first quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at approximately $26,000. Transcendent Capital Group LLC acquired a new position in Schlumberger during the fourth quarter worth $32,000. Janiczek Wealth Management LLC raised its position in Schlumberger by 1,180.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 602 shares in the last quarter. Finally, American National Bank lifted its stake in Schlumberger by 745.5% in the fourth quarter. American National Bank now owns 744 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 656 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the sale, the chief technology officer now directly owns 33,421 shares in the company, valued at $1,612,897.46. The disclosure for this sale can be found here. Insiders sold 106,158 shares of company stock worth $5,099,893 over the last three months. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $47.18 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. The company has a market cap of $67.44 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.91 and a beta of 1.57. The stock has a fifty day moving average price of $46.69 and a 200-day moving average price of $49.61.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. As a group, equities analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.33%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is currently 36.54%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Tuesday, June 25th. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. HSBC reiterated a “buy” rating and set a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. Wells Fargo & Company downgraded Schlumberger from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $68.00 to $53.00 in a report on Monday, April 29th. Finally, Bank of America dropped their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $68.59.

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.