Argent Trust Co Raises Holdings in Schlumberger Limited (NYSE:SLB)

Argent Trust Co lifted its stake in Schlumberger Limited (NYSE:SLB) by 9.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,079 shares of the oil and gas company’s stock after purchasing 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 SEC filing.

Other institutional investors also recently bought and sold shares of the company. Register Financial Advisors LLC purchased a new position in shares of Schlumberger in the first quarter worth $27,000. Bruce G. Allen Investments LLC increased its position in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the period. Unique Wealth Strategies LLC purchased a new position in Schlumberger in the 2nd quarter worth $30,000. Manchester Capital Management LLC lifted its position 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 acquiring an additional 426 shares during the period. Finally, Riverview Trust Co grew its stake in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 2.7 %

Shares of SLB opened at $41.50 on Wednesday. The stock has a 50 day moving average price of $44.71 and a 200 day moving average price of $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. The stock has a market capitalization of $59.32 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.85 and a beta of 1.52. Schlumberger Limited has a one year low of $38.66 and a one year high of $61.78.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently issued reports on SLB. Susquehanna reduced their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, July 11th. StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. TD Cowen upped their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Benchmark reissued a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Finally, Citigroup lowered their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $66.72.

Insider Activity at Schlumberger

In other news, Director Vijay Kasibhatla sold 10,000 shares of the 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 sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by company insiders.

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.