Penobscot Investment Management Company Inc. Invests $914,000 in Schlumberger Limited (NYSE:SLB)

Penobscot Investment Management Company Inc. purchased a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 23,841 shares of the oil and gas company's stock, valued at approximately $914,000.

Several other large investors also recently added to or reduced their stakes in SLB. Murphy & Mullick Capital Management Corp bought a new stake in Schlumberger during the 4th quarter valued at $62,000. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Schlumberger by 159.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,515 shares of the oil and gas company's stock valued at $3,547,000 after purchasing an additional 56,801 shares in the last quarter. Baxter Bros Inc. raised its stake in shares of Schlumberger by 11.6% during the 4th quarter. Baxter Bros Inc. now owns 21,280 shares of the oil and gas company's stock valued at $816,000 after purchasing an additional 2,210 shares during the period. TIAA Trust National Association lifted its holdings in Schlumberger by 3.9% during the 4th quarter. TIAA Trust National Association now owns 10,068 shares of the oil and gas company's stock worth $386,000 after purchasing an additional 376 shares in the last quarter. Finally, Ashton Thomas Securities LLC boosted its stake in Schlumberger by 2,258.3% in the 4th quarter. Ashton Thomas Securities LLC now owns 20,753 shares of the oil and gas company's stock worth $796,000 after purchasing an additional 19,873 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Evercore ISI reissued an "in-line" rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. BMO Capital Markets cut their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Stifel Nicolaus decreased their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, December 23rd. Barclays dropped their price objective on Schlumberger from $54.00 to $53.00 and set an "overweight" rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. upped their target price on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.69.

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Schlumberger Trading Down 0.1 %

Shares of NYSE SLB traded down $0.05 during midday trading on Monday, reaching $41.83. The company had a trading volume of 13,586,314 shares, compared to its average volume of 12,193,613. The stock has a market cap of $56.89 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.65. The firm's fifty day moving average price is $41.25 and its 200-day moving average price is $41.48. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data 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 return on equity of 21.90% and a net margin of 12.29%. 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 earnings per share. The business's revenue was up 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. This is a boost from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.73%. Schlumberger's payout ratio is presently 36.66%.

Insider Activity

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dianne B. Ralston sold 43,161 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the transaction, the insider now directly owns 235,024 shares in the company, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,772 shares of company stock valued at $12,546,660. Insiders own 0.26% of the company's stock.

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.