Morton Community Bank Raises Stock Position in Schlumberger Limited (NYSE:SLB)

Morton Community Bank grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,030 shares of the oil and gas company’s stock after purchasing an additional 1,095 shares during the quarter. Morton Community Bank’s holdings in Schlumberger were worth $2,434,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC boosted its stake in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the last quarter. ORG Partners LLC boosted its stake in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the last quarter. Unique Wealth Strategies LLC acquired a new stake in Schlumberger during the 2nd quarter worth $30,000. Riverview Trust Co boosted its stake in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in Schlumberger during the 3rd quarter worth $29,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Up 0.6 %

Shares of NYSE:SLB opened at $43.94 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The firm has a market capitalization of $62.05 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.55 and a beta of 1.52. The firm’s 50-day moving average is $42.98 and its two-hundred day moving average is $44.38. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. Analysts predict that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.50%. Schlumberger’s payout ratio is 35.37%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several recent research reports. Citigroup lowered their target price on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Susquehanna lowered their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Barclays lowered their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company reduced their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $60.97.

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.