Security National Bank Purchases New Holdings in Schlumberger Limited (NYSE:SLB)

Security National Bank acquired a new position in shares of Schlumberger Limited (NYSE:SLBFree Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 850 shares of the oil and gas company’s stock, valued at approximately $44,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Schlumberger during the fourth quarter worth about $26,000. Janiczek Wealth Management LLC raised its stake in shares of Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after buying an additional 602 shares in the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of Schlumberger by 64.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 292 shares during the period. American National Bank boosted its stake in shares of Schlumberger by 745.5% in the fourth quarter. American National Bank now owns 744 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 656 shares in the last quarter. Finally, Legacy Bridge LLC boosted its stake in shares of Schlumberger by 39.4% in the fourth quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 241 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Up 2.0 %

NYSE SLB traded up $0.89 during mid-day trading on Friday, reaching $44.55. 15,023,109 shares of the stock were exchanged, compared to its average volume of 10,869,614. The stock has a market capitalization of $63.68 billion, a PE ratio of 14.80, a PEG ratio of 0.84 and a beta of 1.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger Limited has a 1-year low of $42.77 and a 1-year high of $62.12. The business’s fifty day simple moving average is $49.02 and its 200 day simple moving average is $50.22.

Schlumberger (NYSE:SLBGet Free Report) last posted its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. On average, research analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a $0.275 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.47%. Schlumberger’s payout ratio is 36.54%.

Analysts Set New Price Targets

A number of research firms have commented on SLB. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Susquehanna reiterated a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. TD Cowen dropped their target price on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a report on Monday, April 22nd. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Bank of America reduced their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $69.06.

Read Our Latest Stock Analysis on Schlumberger

Insider Activity

In related news, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the sale, the insider now directly owns 45,851 shares in the company, valued at $2,213,686.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares in the company, valued at $2,213,686.28. The disclosure for this sale can be found here. Insiders sold a total of 106,158 shares of company stock valued at $5,099,893 in the last 90 days. 0.26% of the stock is currently owned by insiders.

Schlumberger Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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