Peapack Gladstone Financial Corp Has $8.76 Million Holdings in Schlumberger Limited (NYSE:SLB)

Peapack Gladstone Financial Corp decreased its position in Schlumberger Limited (NYSE:SLB) by 14.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 228,527 shares of the oil and gas company’s stock after selling 39,481 shares during the period. Peapack Gladstone Financial Corp’s holdings in Schlumberger were worth $8,761,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SLB. YANKCOM Partnership bought a new stake in shares of Schlumberger during the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger in the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger during the 4th quarter worth approximately $34,000. Hager Investment Management Services LLC acquired a new stake in shares of Schlumberger during the 4th quarter worth approximately $38,000. Finally, Bogart Wealth LLC increased its stake in shares of Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 844 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. The trade was a 44.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 315,905 shares of company stock worth $13,609,283 in the last quarter. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on SLB. BMO Capital Markets reduced their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Wells Fargo & Company dropped their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Barclays decreased their price objective on Schlumberger from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Six equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.79.

Schlumberger Stock Performance

Shares of SLB stock opened at $34.77 on Monday. Schlumberger Limited has a one year low of $32.37 and a one year high of $55.65. The company has a market cap of $47.28 billion, a P/E ratio of 11.18, a P/E/G ratio of 10.10 and a beta of 1.11. The firm has a 50-day moving average of $41.02 and a 200-day moving average of $41.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates 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 last year, the business posted $0.86 EPS. Equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th were given a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 3.28%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 36.66%.

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.