WASHINGTON TRUST Co Buys 400 Shares of Schlumberger Limited (NYSE:SLB)

WASHINGTON TRUST Co boosted its holdings in Schlumberger Limited (NYSE:SLB) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,661 shares of the oil and gas company’s stock after buying an additional 400 shares during the period. WASHINGTON TRUST Co’s holdings in Schlumberger were worth $140,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Schlumberger

In other news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the sale, the executive vice president now owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock worth $11,442,229 over the last three months. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SLB. 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 objective for the company. Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Jefferies Financial Group reduced their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Susquehanna reduced their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Finally, BMO Capital Markets reduced their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Performance

NYSE SLB opened at $41.75 on Friday. The company has a 50-day simple moving average of $40.08 and a two-hundred day simple moving average of $42.05. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The firm has a market cap of $58.48 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 9.49 and a beta of 1.51.

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

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 2.73%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is presently 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.