Moody National Bank Trust Division Sells 4,605 Shares of Schlumberger Limited (NYSE:SLB)

Moody National Bank Trust Division cut its position in shares of Schlumberger Limited (NYSE:SLBGet Rating) by 11.3% during the 1st quarter, HoldingsChannel reports. The firm owned 36,021 shares of the oil and gas company’s stock after selling 4,605 shares during the period. Moody National Bank Trust Division’s holdings in Schlumberger were worth $1,488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CAPROCK Group Inc. boosted its position in shares of Schlumberger by 20.1% during the first quarter. CAPROCK Group Inc. now owns 18,755 shares of the oil and gas company’s stock valued at $777,000 after purchasing an additional 3,135 shares in the last quarter. First American Trust FSB boosted its position in shares of Schlumberger by 3.7% during the first quarter. First American Trust FSB now owns 163,510 shares of the oil and gas company’s stock valued at $6,755,000 after purchasing an additional 5,783 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of Schlumberger during the first quarter valued at approximately $746,000. Veriti Management LLC boosted its position in shares of Schlumberger by 8.4% during the first quarter. Veriti Management LLC now owns 39,451 shares of the oil and gas company’s stock valued at $1,630,000 after purchasing an additional 3,041 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its position in shares of Schlumberger by 1.9% during the first quarter. Maryland State Retirement & Pension System now owns 108,259 shares of the oil and gas company’s stock valued at $4,472,000 after purchasing an additional 2,029 shares in the last quarter. Institutional investors own 76.34% of the company’s stock.

Schlumberger stock opened at $37.52 on Thursday. The stock has a market cap of $53.03 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 0.43 and a beta of 1.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.24. Schlumberger Limited has a one year low of $25.90 and a one year high of $49.83. The stock has a fifty day moving average of $42.51 and a 200 day moving average of $39.20.

Schlumberger (NYSE:SLBGet Rating) last posted its quarterly earnings data on Friday, April 22nd. The oil and gas company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.90 billion. Schlumberger had a return on equity of 14.02% and a net margin of 8.84%. Schlumberger’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. As a group, sell-side analysts predict that Schlumberger Limited will post 1.84 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Wednesday, June 1st will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, May 31st. This is a boost from Schlumberger’s previous quarterly dividend of $0.13. Schlumberger’s dividend payout ratio is 47.62%.

SLB has been the topic of several analyst reports. Barclays boosted their target price on Schlumberger from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, June 8th. Morgan Stanley boosted their target price on Schlumberger from $43.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, April 11th. The Goldman Sachs Group raised Schlumberger from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, March 22nd. Piper Sandler raised Schlumberger from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $43.00 to $55.00 in a report on Monday, April 11th. Finally, Cowen boosted their target price on Schlumberger from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, March 31st. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.85.

In other Schlumberger news, insider Gavin Rennick sold 10,759 shares of the company’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $46.70, for a total value of $502,445.30. Following the completion of the sale, the insider now owns 38,044 shares in the company, valued at $1,776,654.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Limited/Nv Schlumberger sold 14,500,000 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $15.50, for a total value of $224,750,000.00. Following the completion of the sale, the insider now owns 35,101,961 shares of the company’s stock, valued at approximately $544,080,395.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,579,087 shares of company stock valued at $431,340,525. 0.28% of the stock is owned by company insiders.

Schlumberger Company Profile (Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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