First Financial Bankshares Inc Invests $19.54 Million in Schlumberger Limited (NYSE:SLB)

First Financial Bankshares Inc purchased a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 509,607 shares of the oil and gas company's stock, valued at approximately $19,538,000.

Other large investors have also made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger in the 3rd quarter valued at approximately $29,000. YANKCOM Partnership bought a new stake in shares of Schlumberger in the 4th quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger in the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the 4th quarter valued at approximately $34,000. Finally, Hager Investment Management Services LLC acquired a new stake in Schlumberger in the 4th quarter worth approximately $38,000. Institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

SLB has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Evercore ISI restated an "in-line" rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. TD Cowen boosted their target price on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Royal Bank of Canada restated an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Finally, 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 report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.81.

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Schlumberger Price Performance

Shares of SLB stock traded down $0.19 during trading hours on Friday, hitting $41.09. 73,470,042 shares of the company's stock were exchanged, compared to its average volume of 11,721,963. The stock's 50-day moving average is $41.18 and its 200-day moving average is $41.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock has a market cap of $55.87 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69.

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

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio is 36.66%.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the transaction, the executive vice president now owns 210,502 shares of the company's stock, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock valued at $12,546,660 over the last 90 days. 0.26% of the stock is owned by company insiders.

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.