Kennebec Savings Bank Cuts Holdings in Schlumberger Limited (NYSE:SLB)

Kennebec Savings Bank reduced its position in shares of Schlumberger Limited (NYSE:SLB) by 23.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 943 shares of the oil and gas company’s stock after selling 282 shares during the quarter. Kennebec Savings Bank’s holdings in Schlumberger were worth $38,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SLB. Teachers Retirement System of The State of Kentucky grew its holdings in Schlumberger by 25.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after purchasing an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in Schlumberger by 27.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares in the last quarter. Victory Capital Management Inc. raised its position in Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after acquiring an additional 65,318 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 14,376 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of Schlumberger by 26.0% in the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock valued at $12,880,000 after purchasing an additional 63,413 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on SLB shares. Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. Stifel Nicolaus lowered their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. BMO Capital Markets reduced their price objective on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Wells Fargo & Company lowered their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the sale, the executive vice president now owns 210,502 shares of the company’s stock, valued at $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction dated 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 directly owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,258 shares of company stock worth $11,219,004. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.2 %

Shares of NYSE SLB opened at $41.03 on Friday. The stock has a fifty day simple moving average of $40.64 and a 200-day simple moving average of $42.65. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $57.47 billion, a PE ratio of 13.19, a PEG ratio of 9.70 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. On average, equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is 35.37%.

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.