First American Bank Has $2 Million Position in Schlumberger Limited (NYSE:SLB)

First American Bank lifted its position in shares of Schlumberger Limited (NYSE:SLB) by 235.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,931 shares of the oil and gas company’s stock after buying an additional 33,623 shares during the period. First American Bank’s holdings in Schlumberger were worth $2,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC boosted its position in Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 842 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Schlumberger during the fourth quarter worth approximately $40,000. Sound Income Strategies LLC increased its stake in Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 698 shares during the period. J.Safra Asset Management Corp bought a new position in Schlumberger during the 4th quarter worth $46,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Schlumberger in the 4th quarter valued at $47,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $35.82 on Friday. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The firm has a market capitalization of $48.71 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 9.29 and a beta of 1.01. The business has a 50-day simple moving average of $34.54 and a 200 day simple moving average of $38.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93.

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

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger’s dividend payout ratio is currently 38.64%.

Insiders Place Their Bets

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 stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares in the company, valued at $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 is available at this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the transaction, the director now owns 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several recent analyst reports. Jefferies Financial Group decreased their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, March 27th. Susquehanna decreased their price target on Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research note on Monday, April 28th. Barclays cut their price objective on Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Morgan Stanley cut their price objective on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Finally, Stifel Nicolaus cut their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.