Toronto Dominion Bank Has $59.96 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Toronto Dominion Bank grew its position in shares of Schlumberger Limited (NYSE:SLB) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,094,014 shares of the oil and gas company’s stock after purchasing an additional 19,094 shares during the quarter. Toronto Dominion Bank owned approximately 0.08% of Schlumberger worth $59,963,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Schlumberger in the fourth quarter worth approximately $26,000. Register Financial Advisors LLC acquired a new position in shares of Schlumberger in the first quarter worth approximately $27,000. Manchester Capital Management LLC lifted its stake in shares of Schlumberger by 297.9% in the first 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. Transcendent Capital Group LLC acquired a new position in shares of Schlumberger in the fourth quarter worth approximately $32,000. Finally, Janiczek Wealth Management LLC lifted its stake in shares of Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 602 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the completion of the transaction, the chief technology officer now directly owns 33,421 shares in the company, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 286,874 shares of company stock worth $14,148,517. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Up 1.2 %

Schlumberger stock traded up $0.60 during trading on Friday, hitting $48.83. 8,187,262 shares of the company were exchanged, compared to its average volume of 11,073,436. The business’s 50 day moving average is $46.32 and its 200 day moving average is $48.98. Schlumberger Limited has a 52 week low of $42.61 and a 52 week high of $62.12. The company has a market capitalization of $69.79 billion, a P/E ratio of 16.22, a PEG ratio of 1.02 and a beta of 1.55. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Schlumberger’s revenue was up 12.8% compared to the same quarter last year. Analysts predict that Schlumberger Limited will post 3.5 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.25%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Analysts Set New Price Targets

A number of research firms recently commented on SLB. BMO Capital Markets cut their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. TD Cowen lifted their target price on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler lowered their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, HSBC reiterated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $67.56.

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.