Bangor Savings Bank Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

Bangor Savings Bank lessened its stake in shares of Schlumberger Limited (NYSE:SLBFree Report) by 33.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 530 shares of the oil and gas company’s stock after selling 270 shares during the quarter. Bangor Savings Bank’s holdings in Schlumberger were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Schlumberger by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after buying an additional 1,753,108 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Schlumberger by 12.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock valued at $3,922,768,000 after buying an additional 8,617,971 shares during the period. Capital World Investors grew its holdings in Schlumberger by 2.2% in the 4th quarter. Capital World Investors now owns 51,617,471 shares of the oil and gas company’s stock valued at $2,686,173,000 after buying an additional 1,133,686 shares during the period. Norges Bank purchased a new stake in Schlumberger in the 4th quarter valued at about $1,000,292,000. Finally, Morgan Stanley lifted its stake in shares of Schlumberger by 1.9% in the 3rd quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after purchasing an additional 292,817 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of Schlumberger stock traded up $0.20 during trading on Friday, hitting $45.66. The stock had a trading volume of 26,456,959 shares, compared to its average volume of 12,342,773. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The firm has a market cap of $65.26 billion, a P/E ratio of 15.17, a PEG ratio of 0.87 and a beta of 1.57. The business has a fifty day moving average of $47.08 and a two-hundred day moving average of $49.67. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12.

Schlumberger (NYSE:SLBGet Free Report) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. Schlumberger’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. On average, sell-side analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.41%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is presently 36.54%.

Insider Activity at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,158 shares of company stock valued at $5,099,893. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

SLB has been the topic of several recent research reports. Royal Bank of Canada boosted their price target on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Finally, HSBC reiterated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.06.

Read Our Latest Stock Report on SLB

Schlumberger Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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