First National Bank & Trust Co. of Newtown Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

First National Bank & Trust Co. of Newtown cut its stake in Schlumberger Limited (NYSE:SLB) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,302 shares of the oil and gas company’s stock after selling 220 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in Schlumberger were worth $276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Investment Advisory Services Inc. TX ADV lifted its holdings in Schlumberger by 1.4% during the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 11,968 shares of the oil and gas company’s stock worth $698,000 after buying an additional 171 shares during the last quarter. Miller Howard Investments Inc. NY lifted its holdings in Schlumberger by 0.5% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock worth $1,915,000 after buying an additional 176 shares during the last quarter. Stonegate Investment Group LLC increased its position in shares of Schlumberger by 1.7% during the third quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock worth $633,000 after purchasing an additional 177 shares in the last quarter. CI Investments Inc. increased its position in shares of Schlumberger by 4.9% during the third quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock worth $241,000 after purchasing an additional 192 shares in the last quarter. Finally, Montgomery Investment Management Inc. increased its position in shares of Schlumberger by 1.9% during the third quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock worth $637,000 after purchasing an additional 200 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 38,570 shares of Schlumberger stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total value of $1,944,699.40. Following the transaction, the executive vice president now owns 386,841 shares in the company, valued at approximately $19,504,523.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the completion of the transaction, the executive vice president now directly owns 386,841 shares in the company, valued at approximately $19,504,523.22. The disclosure for this sale can be found here. Insiders have sold a total of 172,191 shares of company stock worth $8,636,322 in the last quarter. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SLB has been the subject of several analyst reports. Stifel Nicolaus upped their price objective on Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Bank of America increased their target price on Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday. Susquehanna reaffirmed a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a report on Monday, April 8th. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Finally, Royal Bank of Canada increased their price target on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $70.31.

Schlumberger Price Performance

Shares of NYSE:SLB traded down $0.91 on Friday, hitting $50.03. The company had a trading volume of 8,840,747 shares, compared to its average volume of 11,170,216. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The company has a market cap of $71.41 billion, a PE ratio of 17.05, a PEG ratio of 0.97 and a beta of 1.60. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12. The business has a 50 day moving average of $51.56 and a 200 day moving average of $52.48.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Schlumberger Limited will post 3.52 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, July 11th. Investors of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is 37.67%.

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.