M&T Bank Corp Sells 2,956 Shares of Schlumberger Limited (NYSE:SLB)

M&T Bank Corp lowered its stake in Schlumberger Limited (NYSE:SLB) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 208,548 shares of the oil and gas company’s stock after selling 2,956 shares during the period. M&T Bank Corp’s holdings in Schlumberger were worth $10,853,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. BluePath Capital Management LLC bought a new stake in shares of Schlumberger during the 3rd quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Schlumberger in the 4th quarter worth about $26,000. Janiczek Wealth Management LLC boosted its stake in Schlumberger by 1,180.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 602 shares in the last quarter. Pinnacle Bancorp Inc. boosted its stake in Schlumberger by 64.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 292 shares in the last quarter. Finally, Legacy Bridge LLC boosted its stake in Schlumberger by 39.4% in the 4th quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 241 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.2 %

Shares of NYSE:SLB opened at $47.66 on Monday. The stock has a 50 day moving average of $51.63 and a 200 day moving average of $51.67. The company has a market cap of $68.12 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12-month low of $42.73 and a 12-month high of $62.12.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same period in the prior year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts expect that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.31%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio is presently 36.54%.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the sale, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SLB shares. TD Cowen dropped their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Barclays dropped their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. HSBC reissued a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Bank of America decreased their target price on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $68.00 to $53.00 in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.72.

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.