NBT Bank N A NY Boosts Holdings in Schlumberger Limited (NYSE:SLB)

NBT Bank N A NY grew its stake in Schlumberger Limited (NYSE:SLB) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,769 shares of the oil and gas company’s stock after purchasing an additional 461 shares during the quarter. NBT Bank N A NY’s holdings in Schlumberger were worth $1,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SLB. Dynamic Technology Lab Private Ltd boosted its holdings in Schlumberger by 32.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company’s stock worth $2,737,000 after buying an additional 17,405 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Schlumberger by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock valued at $1,146,195,000 after acquiring an additional 1,377,134 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its stake in shares of Schlumberger by 502.6% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock worth $7,592,000 after acquiring an additional 165,162 shares during the last quarter. Integrated Advisors Network LLC increased its position in shares of Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company’s stock worth $3,142,000 after purchasing an additional 66,907 shares in the last quarter. Finally, Miller Financial Services LLC acquired a new position in Schlumberger in the 4th quarter valued at $375,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

NYSE:SLB opened at $36.14 on Wednesday. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The stock’s fifty day moving average is $34.44 and its two-hundred day moving average is $38.24. The company has a market capitalization of $49.16 billion, a P/E ratio of 12.25, a P/E/G ratio of 9.30 and a beta of 1.01. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same period in the previous year, the business posted $0.75 earnings per share. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.15%. Schlumberger’s dividend payout ratio is currently 38.64%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SLB. Barclays lowered their target price on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company lowered their price target on shares of Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, June 5th. Jefferies Financial Group dropped their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Piper Sandler decreased their target price on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Finally, Morgan Stanley dropped their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.38.

Insider Buying and Selling

In related news, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director now owns 23,525 shares of the company’s stock, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate 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.