Essex Savings Bank Sells 427 Shares of Schlumberger Limited (NYSE:SLB)

Essex Savings Bank lessened its position in Schlumberger Limited (NYSE:SLB) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,326 shares of the oil and gas company’s stock after selling 427 shares during the period. Essex Savings Bank’s holdings in Schlumberger were worth $204,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky increased its position in shares of Schlumberger by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after buying an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after purchasing an additional 65,318 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in shares of Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 14,376 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in shares of Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of NYSE SLB opened at $41.16 on Friday. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a market cap of $58.13 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. The business’s 50 day moving average price is $40.89 and its two-hundred day moving average price is $42.93. 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 posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the previous year, the firm earned $0.78 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Schlumberger Limited will post 3.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BMO Capital Markets dropped their target price on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday. Piper Sandler assumed coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Schlumberger from $55.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Stifel Nicolaus dropped their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $56.03.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The shares were 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 owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Schlumberger 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.