Northwest Bank & Trust Co Acquires 453 Shares of Schlumberger Limited (NYSE:SLB)

Northwest Bank & Trust Co boosted its holdings in Schlumberger Limited (NYSE:SLB) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,546 shares of the oil and gas company’s stock after acquiring an additional 453 shares during the period. Northwest Bank & Trust Co’s holdings in Schlumberger were worth $778,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SLB. Point72 Hong Kong Ltd bought a new position in Schlumberger in the fourth quarter valued at about $12,540,000. Cohen & Steers Inc. purchased a new position in Schlumberger in the fourth quarter worth $3,064,000. Harbert Fund Advisors Inc. purchased a new position in Schlumberger in the fourth quarter worth $520,000. Goehring & Rozencwajg Associates LLC raised its stake in shares of Schlumberger by 3.3% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 148,951 shares of the oil and gas company’s stock valued at $7,751,000 after buying an additional 4,700 shares during the period. Finally, Groupama Asset Managment bought a new stake in shares of Schlumberger during the 4th quarter valued at $90,730,000. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup cut their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. UBS Group cut their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Dbs Bank assumed coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. JPMorgan Chase & Co. decreased their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Finally, Piper Sandler decreased their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.08.

Schlumberger Trading Up 1.4 %

Shares of SLB traded up $0.62 on Thursday, hitting $44.83. 3,181,195 shares of the stock traded hands, compared to its average volume of 11,036,743. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $63.65 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.98 and a beta of 1.51. The stock’s 50 day moving average is $43.14 and its two-hundred day moving average is $46.55. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $61.20.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter last year, the firm posted $0.72 earnings per share. Schlumberger’s revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts predict that Schlumberger Limited will post 3.47 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Transactions at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is currently owned by insiders.

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.