First American Bank Acquires Shares of 14,308 Schlumberger Limited (NYSE:SLB)

First American Bank bought a new position in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,308 shares of the oil and gas company’s stock, valued at approximately $549,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLB. Prospera Private Wealth LLC acquired a new position in Schlumberger in the 3rd quarter valued at $29,000. YANKCOM Partnership acquired a new position in Schlumberger in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger in the fourth quarter valued at about $32,000. Golden State Wealth Management LLC acquired a new stake in Schlumberger during the fourth quarter worth about $34,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Schlumberger during the third quarter worth about $37,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Trading Up 0.6 %

Shares of SLB stock opened at $40.86 on Friday. The stock has a 50-day moving average of $40.41 and a 200-day moving average of $41.84. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The stock has a market cap of $55.56 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 10.10 and a beta of 1.51. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 EPS. On average, equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.79%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SLB shares. JPMorgan Chase & Co. upped their price target on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. BMO Capital Markets reduced their target price on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Citigroup boosted their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Jefferies Financial Group decreased their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Six investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Insider Activity at Schlumberger

In related news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction 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 transaction, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock worth $12,546,660 in the last quarter. Company 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.