Crews Bank & Trust Acquires 1,500 Shares of Schlumberger Limited $SLB

Crews Bank & Trust boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 993.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,651 shares of the oil and gas company’s stock after buying an additional 1,500 shares during the quarter. Crews Bank & Trust’s holdings in Schlumberger were worth $56,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. First Command Advisory Services Inc. boosted its position in Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares during the period. Atticus Wealth Management LLC acquired a new stake in shares of Schlumberger during the 2nd quarter worth about $29,000. Atlas Capital Advisors Inc. acquired a new stake in Schlumberger during the first quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Schlumberger by 55.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 350 shares during the period. Finally, Alpine Bank Wealth Management acquired a new position in shares of Schlumberger in the first quarter valued at approximately $34,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.22% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

SLB stock opened at $34.26 on Friday. The company’s 50-day moving average price is $34.63 and its two-hundred day moving average price is $35.19. The firm has a market cap of $51.17 billion, a P/E ratio of 11.73, a P/E/G ratio of 9.47 and a beta of 0.97. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. On average, analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.3%. Schlumberger’s payout ratio is 39.04%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Susquehanna dropped their price target on Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a report on Monday, July 21st. Stifel Nicolaus reduced their target price on shares of Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Jefferies Financial Group lowered their price target on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Schlumberger in a report on Saturday, September 27th. Finally, Zacks Research raised shares of Schlumberger from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

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.