Argent Trust Co Increases Position in Schlumberger Limited (NYSE:SLB)

Argent Trust Co grew its position in Schlumberger Limited (NYSE:SLB) by 9.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,079 shares of the oil and gas company’s stock after buying an additional 7,297 shares during the quarter. Argent Trust Co’s holdings in Schlumberger were worth $3,872,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger during the first quarter worth about $27,000. Bruce G. Allen Investments LLC grew its stake in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in Schlumberger during the 2nd quarter worth about $30,000. Manchester Capital Management LLC increased its holdings 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 worth $31,000 after purchasing an additional 426 shares during the period. Finally, Riverview Trust Co increased its stake in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock worth $9,048,624 in the last three months. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 2.7 %

NYSE SLB opened at $41.50 on Wednesday. Schlumberger Limited has a one year low of $38.66 and a one year high of $61.78. The firm has a market cap of $59.32 billion, a PE ratio of 13.79, a P/E/G ratio of 0.85 and a beta of 1.52. The firm’s fifty day moving average is $44.71 and its two-hundred day moving average is $47.52. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49.

Schlumberger (NYSE:SLB) last issued 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. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

Wall Street Analyst Weigh In

SLB has been the subject of several analyst reports. Citigroup lowered their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. Barclays lowered their target price on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Bank of America lowered their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Benchmark restated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.72.

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.