Morton Community Bank Acquires 660 Shares of Schlumberger Limited (NYSE:SLB)

Morton Community Bank increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 1.1% during the 4th quarter, HoldingsChannel reports. The firm owned 58,690 shares of the oil and gas company’s stock after purchasing an additional 660 shares during the period. Morton Community Bank’s holdings in Schlumberger were worth $2,250,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Independent Advisor Alliance raised its position in Schlumberger by 62.0% in the 4th quarter. Independent Advisor Alliance now owns 13,468 shares of the oil and gas company’s stock valued at $516,000 after buying an additional 5,156 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Schlumberger by 2.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 185,853 shares of the oil and gas company’s stock valued at $7,126,000 after buying an additional 4,952 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Schlumberger by 6.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 660,451 shares of the oil and gas company’s stock valued at $25,322,000 after buying an additional 37,447 shares during the last quarter. Sound View Wealth Advisors Group LLC raised its position in Schlumberger by 5.4% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 11,211 shares of the oil and gas company’s stock valued at $430,000 after buying an additional 573 shares during the last quarter. Finally, Sowell Financial Services LLC raised its position in Schlumberger by 45.4% in the 4th quarter. Sowell Financial Services LLC now owns 22,935 shares of the oil and gas company’s stock valued at $879,000 after buying an additional 7,156 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now owns 210,502 shares of the company’s stock, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the sale, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,772 shares of company stock valued at $12,546,660. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of SLB opened at $41.36 on Monday. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The business has a 50-day simple moving average of $40.73 and a two-hundred day simple moving average of $41.63. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The stock has a market cap of $56.25 billion, a PE ratio of 13.30, a PEG ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last issued its 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 business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. Analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.76%. Schlumberger’s dividend payout ratio is presently 36.66%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Citigroup boosted their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. boosted their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

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.