Central Pacific Bank Trust Division Sells 1,960 Shares of Schlumberger Limited (NYSE:SLB)

Central Pacific Bank Trust Division lessened its position in shares of Schlumberger Limited (NYSE:SLB) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,403 shares of the oil and gas company’s stock after selling 1,960 shares during the period. Central Pacific Bank Trust Division’s holdings in Schlumberger were worth $1,664,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC boosted its stake in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger during the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Schlumberger during the third quarter worth about $37,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new stake in Schlumberger in the third quarter valued at approximately $47,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Up 0.3 %

Shares of SLB traded up $0.10 during trading hours on Friday, reaching $38.50. 5,445,233 shares of the company traded hands, compared to its average volume of 8,420,029. Schlumberger Limited has a 12 month low of $36.52 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. The company’s fifty day moving average price is $41.19 and its two-hundred day moving average price is $43.37. The company has a market capitalization of $54.37 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51.

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. The firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 EPS. Equities research analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.86%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Analyst Ratings Changes

A number of equities analysts have commented on SLB shares. Barclays cut their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Jefferies Financial Group dropped their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday. Susquehanna reduced their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Morgan Stanley dropped their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.25.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by corporate insiders.

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.