First American Bank Buys New Position in Schlumberger Limited (NYSE:SLB)

First American Bank bought a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,308 shares of the oil and gas company's stock, valued at approximately $549,000.

A number of other large investors have also recently made changes to their positions in SLB. Teachers Retirement System of The State of Kentucky grew its position in Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock worth $31,961,000 after purchasing an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock worth $3,223,000 after buying an additional 16,350 shares during the last quarter. Victory Capital Management Inc. increased its position in Schlumberger by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company's stock valued at $34,305,000 after acquiring an additional 65,318 shares during the period. Bryn Mawr Capital Management LLC raised its stake in Schlumberger by 502.6% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock valued at $7,592,000 after acquiring an additional 165,162 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position in Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company's stock worth $827,000 after acquiring an additional 14,376 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, insider Gavin Rennick sold 26,990 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the sale, the insider now directly owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 290,772 shares of company stock valued at $12,546,660. Company insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SLB shares. Jefferies Financial Group cut their price target on Schlumberger from $64.00 to $61.00 and set a "buy" rating for the company in a research note on Friday, January 3rd. Atb Cap Markets downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Piper Sandler assumed coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a "neutral" rating and a $47.00 price target for the company. Griffin Securities lowered Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Finally, Stifel Nicolaus cut their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Monday, December 23rd. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.81.

Schlumberger Price Performance

Schlumberger stock traded down $0.77 during mid-day trading on Tuesday, hitting $39.05. 18,100,799 shares of the company were exchanged, compared to its average volume of 14,279,004. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The business's 50 day simple moving average is $40.56 and its two-hundred day simple moving average is $41.76. The company has a market capitalization of $53.10 billion, a P/E ratio of 12.56, a PEG ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. Analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.92%. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio (DPR) is 36.66%.

Schlumberger Company 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.