Schlumberger Limited (NYSE:SLB) Shares Purchased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. increased its position in shares of Schlumberger Limited (NYSE:SLB) by 126.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 53,911 shares of the oil and gas company’s stock after acquiring an additional 30,070 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Schlumberger were worth $2,253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Schlumberger by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after acquiring an additional 1,166 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Schlumberger by 9.3% during the fourth quarter. Global Retirement Partners LLC now owns 5,383 shares of the oil and gas company’s stock valued at $206,000 after acquiring an additional 457 shares during the last quarter. IFP Advisors Inc increased its position in shares of Schlumberger by 97.4% during the fourth quarter. IFP Advisors Inc now owns 65,597 shares of the oil and gas company’s stock valued at $2,515,000 after acquiring an additional 32,367 shares during the last quarter. Crestwood Advisors Group LLC acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $254,000. Finally, Pine Valley Investments Ltd Liability Co acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $226,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SLB shares. Stifel Nicolaus dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Wells Fargo & Company dropped their price target on shares of Schlumberger from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Thursday, June 5th. Susquehanna dropped their price objective on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a report on Monday, April 28th. Morgan Stanley dropped their price objective on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Finally, Barclays dropped their price objective on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $52.38.

Schlumberger Stock Down 0.9%

Shares of Schlumberger stock opened at $33.21 on Thursday. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The company has a 50 day moving average of $34.51 and a 200 day moving average of $37.94. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $45.17 billion, a P/E ratio of 11.26, a P/E/G ratio of 8.68 and a beta of 1.01.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results 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 firm had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. As a group, research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.43%. Schlumberger’s dividend payout ratio is currently 38.64%.

Insider Buying and Selling

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

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.