Fulton Bank N.A. Buys 253 Shares of Schlumberger Limited (NYSE:SLB)

Fulton Bank N.A. raised its position in Schlumberger Limited (NYSE:SLB) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,380 shares of the oil and gas company’s stock after purchasing an additional 253 shares during the period. Fulton Bank N.A.’s holdings in Schlumberger were worth $678,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SLB. Turtle Creek Wealth Advisors LLC purchased a new position in Schlumberger during the 4th quarter valued at $26,000. Register Financial Advisors LLC purchased a new position in Schlumberger in the first quarter worth about $27,000. Manchester Capital Management LLC boosted its stake in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Schlumberger in the 4th quarter worth about $32,000. Finally, Janiczek Wealth Management LLC lifted its position in Schlumberger by 1,180.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 602 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 286,874 shares of company stock valued at $14,148,517. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Susquehanna lowered their target price on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Stifel Nicolaus reissued a “buy” rating and set a $64.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Finally, Piper Sandler decreased their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.56.

Schlumberger Price Performance

Schlumberger stock traded down $0.40 during mid-day trading on Wednesday, reaching $43.00. The company had a trading volume of 3,985,559 shares, compared to its average volume of 10,959,582. The stock’s 50-day simple moving average is $46.20 and its 200-day simple moving average is $48.84. Schlumberger Limited has a 1 year low of $42.61 and a 1 year high of $62.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The company has a market capitalization of $61.05 billion, a P/E ratio of 14.65, a P/E/G ratio of 0.96 and a beta of 1.55.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share. On average, equities analysts predict that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.56%. Schlumberger’s payout ratio is currently 36.54%.

Schlumberger 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.