First American Bank Takes $549,000 Position in Schlumberger Limited (NYSE:SLB)

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

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Prospera Private Wealth LLC purchased a new position in Schlumberger during the 3rd quarter worth $29,000. YANKCOM Partnership bought a new position in shares of Schlumberger during the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new position in Schlumberger during the fourth quarter worth about $32,000. Golden State Wealth Management LLC bought a new stake in Schlumberger in the 4th quarter worth about $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Schlumberger in the 3rd quarter valued at about $37,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Shares of SLB opened at $40.86 on Friday. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The stock’s 50-day simple moving average is $40.41 and its 200 day simple moving average is $41.84. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a market capitalization of $55.56 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 10.10 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company 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%. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.86 earnings per share. Research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is 36.66%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company lowered their target price 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. TD Cowen boosted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Six 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Buying and Selling

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value 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. This trade represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,772 shares of company stock worth $12,546,660. Corporate insiders own 0.26% of the company’s stock.

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.