Fulton Bank N.A. Raises Stock Position in Schlumberger Limited (NYSE:SLB)

Fulton Bank N.A. lifted its stake in Schlumberger Limited (NYSE:SLB) by 5.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,518 shares of the oil and gas company’s stock after acquiring an additional 1,029 shares during the period. Fulton Bank N.A.’s holdings in Schlumberger were worth $710,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SLB. ORG Partners LLC grew its holdings in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger in the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger during the 3rd quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. increased its position in Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after buying an additional 876 shares during the period. Finally, J. Stern & Co. LLP purchased a new stake in Schlumberger in the third quarter valued at approximately $47,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Stifel Nicolaus reduced their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. TD Cowen reduced their price objective on Schlumberger from $65.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Citigroup lowered their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.58.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $38.77 on Friday. The firm has a market capitalization of $54.75 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The business’s 50 day simple moving average is $41.00 and its 200-day simple moving average is $43.16. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 earnings per share. As a group, equities analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Wednesday, December 4th. Schlumberger’s payout ratio is currently 35.37%.

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.