Schlumberger Limited (NYSE:SLB) Shares Bought by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH raised its stake in Schlumberger Limited (NYSE:SLB) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,550 shares of the oil and gas company’s stock after acquiring an additional 1,792 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Schlumberger were worth $2,907,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Fairvoy Private Wealth LLC acquired a new position in Schlumberger in the first quarter valued at approximately $2,478,000. Exchange Traded Concepts LLC raised its stake in shares of Schlumberger by 594.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 87,257 shares of the oil and gas company’s stock worth $3,647,000 after buying an additional 74,696 shares during the period. Sound Income Strategies LLC raised its stake in shares of Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company’s stock worth $40,000 after buying an additional 698 shares during the period. Foster Victor Wealth Advisors LLC raised its stake in shares of Schlumberger by 10.5% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 6,160 shares of the oil and gas company’s stock worth $257,000 after buying an additional 584 shares during the period. Finally, Ritholtz Wealth Management acquired a new position in shares of Schlumberger during the 1st quarter worth approximately $1,195,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SLB shares. Barclays reduced their target price on Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Stifel Nicolaus reduced their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Piper Sandler reduced their target price on Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Morgan Stanley reduced their target price on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Finally, Wells Fargo & Company dropped their price target on Schlumberger from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Thursday, June 5th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.38.

Schlumberger Stock Up 1.9%

Shares of NYSE:SLB opened at $36.31 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $34.36 and a two-hundred day moving average of $38.35. The stock has a market cap of $49.38 billion, a P/E ratio of 11.67, a PEG ratio of 10.10 and a beta of 1.01. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 earnings per share. On average, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger’s dividend payout ratio is presently 38.64%.

Insider Transactions at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the transaction, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director now owns 23,525 shares of the company’s stock, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.