Enterprise Bank & Trust Co Trims Stake in Schlumberger Limited (NYSE:SLB)

Enterprise Bank & Trust Co trimmed its position in Schlumberger Limited (NYSE:SLB) by 7.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 32,016 shares of the oil and gas company’s stock after selling 2,514 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Schlumberger were worth $1,227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC grew its holdings in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Schlumberger during the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in Schlumberger in the third quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. lifted its holdings in Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after buying an additional 876 shares during the period. Finally, J. Stern & Co. LLP bought a new stake in Schlumberger during the 3rd quarter valued at $47,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 2.9 %

Shares of SLB traded up $1.11 during trading on Monday, reaching $39.73. 9,422,567 shares of the company traded hands, compared to its average volume of 10,721,264. The stock has a 50-day simple moving average of $40.97 and a 200-day simple moving average of $43.05. The stock has a market cap of $56.10 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.78 EPS. On average, analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 4th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SLB shares. Stifel Nicolaus cut their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. TD Cowen reduced their price objective on shares of Schlumberger from $65.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Morgan Stanley decreased their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, BMO Capital Markets reduced their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.58.

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.