Kennebec Savings Bank Takes $51,000 Position in Schlumberger Limited (NYSE:SLB)

Kennebec Savings Bank acquired a new stake in Schlumberger Limited (NYSE:SLB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,225 shares of the oil and gas company’s stock, valued at approximately $51,000.

Other hedge funds have also recently bought and sold shares of the company. Financial Advocates Investment Management raised its position in shares of Schlumberger by 3.4% during the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 218 shares during the period. Chilton Capital Management LLC raised its position in shares of Schlumberger by 0.8% during the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after purchasing an additional 219 shares during the period. Grove Bank & Trust raised its position in shares of Schlumberger by 17.4% during the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 224 shares during the period. First PREMIER Bank raised its position in shares of Schlumberger by 8.7% during the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 227 shares during the period. Finally, Addison Advisors LLC raised its position in shares of Schlumberger by 6.5% during the 2nd quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock worth $179,000 after purchasing an additional 233 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Price Performance

SLB opened at $44.29 on Tuesday. The stock has a fifty day moving average of $42.21 and a 200-day moving average of $44.84. The firm has a market capitalization of $62.54 billion, a P/E ratio of 14.24, a PEG ratio of 1.52 and a beta of 1.52. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during 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%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 earnings per share. Equities analysts forecast that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.48%. Schlumberger’s payout ratio is currently 35.37%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent analyst reports. BMO Capital Markets decreased their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. UBS Group decreased their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Bank of America decreased their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Susquehanna decreased their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Finally, Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Company Profile

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.