Dorsey & Whitney Trust CO LLC Has $606,000 Stock Position in Schlumberger Limited (NYSE:SLB)

Dorsey & Whitney Trust CO LLC increased its holdings in Schlumberger Limited (NYSE:SLBFree Report) by 133.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,644 shares of the oil and gas company’s stock after acquiring an additional 6,663 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Schlumberger were worth $606,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SLB. Vanguard Group Inc. lifted its holdings in shares of Schlumberger by 1.1% in the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after purchasing an additional 1,412,821 shares in the last quarter. FMR LLC grew its stake in shares of Schlumberger by 1.1% in the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock worth $1,584,099,000 after acquiring an additional 282,709 shares in the last quarter. Norges Bank purchased a new stake in shares of Schlumberger in the fourth quarter valued at about $1,000,292,000. Morgan Stanley boosted its holdings in Schlumberger by 1.9% during the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock worth $920,561,000 after purchasing an additional 292,817 shares during the last quarter. Finally, Sanders Capital LLC grew its position in Schlumberger by 4.3% in the 4th quarter. Sanders Capital LLC now owns 8,402,669 shares of the oil and gas company’s stock worth $437,275,000 after purchasing an additional 346,177 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Susquehanna restated a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Bank of America reduced their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Wells Fargo & Company cut Schlumberger from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. TD Cowen reduced their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, StockNews.com upgraded shares of Schlumberger from a “hold” rating to a “buy” rating in a report on Monday, May 27th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.72.

Get Our Latest Stock Analysis on Schlumberger

Schlumberger Stock Up 0.7 %

SLB stock opened at $45.89 on Friday. Schlumberger Limited has a twelve month low of $42.73 and a twelve month high of $62.12. The firm has a market capitalization of $65.59 billion, a PE ratio of 15.25, a PEG ratio of 0.88 and a beta of 1.64. 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 50-day simple moving average of $50.10 and a two-hundred day simple moving average of $50.52.

Schlumberger (NYSE:SLBGet Free Report) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. Schlumberger’s revenue was up 12.6% on a year-over-year basis. On average, equities analysts predict that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.40%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insider Buying and Selling

In other news, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction dated 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 completion of the sale, the insider now owns 45,851 shares in the company, valued at approximately $2,213,686.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the transaction, the insider now owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Schlumberger Company 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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