Fulton Bank N.A. Has $774,000 Holdings in Schlumberger Limited (NYSE:SLB)

Fulton Bank N.A. lifted its holdings in Schlumberger Limited (NYSE:SLBFree Report) by 19.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,127 shares of the oil and gas company’s stock after purchasing an additional 2,279 shares during the period. Fulton Bank N.A.’s holdings in Schlumberger were worth $774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Carolinas Wealth Consulting LLC raised its holdings in Schlumberger by 53.5% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 683 shares during the period. Highland Capital Management LLC raised its holdings in Schlumberger by 2,494.0% in the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock worth $5,278,000 after acquiring an additional 97,516 shares during the period. Nordea Investment Management AB raised its holdings in Schlumberger by 36.4% in the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock worth $74,080,000 after acquiring an additional 380,185 shares during the period. Asset Management One Co. Ltd. raised its holdings in Schlumberger by 6.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after acquiring an additional 35,763 shares during the period. Finally, Sapient Capital LLC bought a new position in Schlumberger in the 4th quarter worth $1,389,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

NYSE:SLB traded up $1.03 on Thursday, reaching $45.47. The stock had a trading volume of 14,609,044 shares, compared to its average volume of 11,163,216. The company has a market capitalization of $64.98 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 0.86 and a beta of 1.57. Schlumberger Limited has a 1-year low of $42.61 and a 1-year high of $62.12. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average price of $47.20 and a 200-day moving average price of $49.72.

Schlumberger (NYSE:SLBGet Free Report) last released its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. Research analysts forecast that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a $0.275 dividend. The ex-dividend date is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.42%. Schlumberger’s payout ratio is 36.54%.

Wall Street Analyst Weigh In

Several research analysts recently commented on SLB shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Bank of America dropped their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Stifel Nicolaus restated a “buy” rating and set a $64.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Finally, Royal Bank of Canada boosted their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.06.

Check Out Our Latest Report on Schlumberger

Insider Buying and Selling at Schlumberger

In other news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the transaction, the insider now owns 45,851 shares in the company, valued at $2,213,686.28. The disclosure for this sale can be found here. Insiders have sold a total of 106,158 shares of company stock worth $5,099,893 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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