Townsend Asset Management Corp NC ADV Grows Stake in Schlumberger Limited (NYSE:SLB)

Townsend Asset Management Corp NC ADV boosted its position in Schlumberger Limited (NYSE:SLB) by 13.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 102,770 shares of the oil and gas company’s stock after purchasing an additional 12,509 shares during the quarter. Schlumberger comprises approximately 1.7% of Townsend Asset Management Corp NC ADV’s investment portfolio, making the stock its 15th largest position. Townsend Asset Management Corp NC ADV’s holdings in Schlumberger were worth $4,296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. TCW Group Inc. raised its position in shares of Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after buying an additional 259 shares during the period. Vident Advisory LLC increased its stake in Schlumberger by 1.0% during the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock worth $1,067,000 after purchasing an additional 273 shares during the period. Glen Eagle Advisors LLC increased its stake in Schlumberger by 3.7% during the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock worth $301,000 after purchasing an additional 282 shares during the period. Cromwell Holdings LLC boosted its stake in shares of Schlumberger by 7.0% in the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock valued at $167,000 after purchasing an additional 283 shares during the period. Finally, Laidlaw Wealth Management LLC grew its holdings in shares of Schlumberger by 1.3% in the fourth quarter. Laidlaw Wealth Management LLC now owns 23,085 shares of the oil and gas company’s stock valued at $885,000 after purchasing an additional 305 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was 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 directly owns 31,031 shares of the company’s stock, valued at $1,311,990.68. This represents a 44.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 23,525 shares in the company, valued at approximately $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. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 0.6%

NYSE:SLB opened at $35.85 on Thursday. The company has a market capitalization of $48.76 billion, a PE ratio of 12.15, a P/E/G ratio of 9.35 and a beta of 1.01. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The stock’s 50 day moving average price is $34.43 and its 200 day moving average price is $38.22. 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 posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The firm had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. Schlumberger’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. On average, research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced 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 of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.18%. Schlumberger’s payout ratio is 38.64%.

Wall Street Analyst Weigh In

SLB has been the subject of several recent research reports. Wells Fargo & Company decreased 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. Stifel Nicolaus decreased their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, April 28th. Susquehanna lowered their target price on Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a research note on Monday, April 28th. Piper Sandler reduced their price target on Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Finally, Barclays decreased their price objective on Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research note 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.38.

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.