Fulton Bank N.A. Purchases 3,109 Shares of Schlumberger Limited (NYSE:SLB)

Fulton Bank N.A. increased its position in shares of Schlumberger Limited (NYSE:SLB) by 21.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,489 shares of the oil and gas company’s stock after acquiring an additional 3,109 shares during the quarter. Fulton Bank N.A.’s holdings in Schlumberger were worth $734,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new position in Schlumberger during the 1st quarter valued at about $27,000. Bruce G. Allen Investments LLC lifted its holdings in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new position in Schlumberger in the second quarter valued at approximately $30,000. Manchester Capital Management LLC grew its holdings in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the period. Finally, Riverview Trust Co raised its position in shares of Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Susquehanna lowered their price target on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, July 11th. Benchmark reissued a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Bank of America lowered their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Finally, Dbs Bank initiated coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Two analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.29.

Schlumberger Stock Down 3.2 %

NYSE:SLB opened at $44.14 on Wednesday. The company has a market cap of $63.09 billion, a PE ratio of 14.66, a PEG ratio of 0.94 and a beta of 1.51. The stock has a 50-day simple moving average of $43.30 and a 200 day simple moving average of $46.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $61.20.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating 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 period last year, the company earned $0.72 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts expect that Schlumberger Limited will post 3.48 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.49%. Schlumberger’s dividend payout ratio is 36.54%.

Insider Activity

In related news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the sale, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock worth $9,048,624 in the last quarter. Corporate insiders own 0.26% of the company’s stock.

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.