Schlumberger Limited (NYSE:SLB) Stock Holdings Lowered by First Financial Bank Trust Division

First Financial Bank Trust Division lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 2.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 75,083 shares of the oil and gas company’s stock after selling 1,609 shares during the period. First Financial Bank Trust Division’s holdings in Schlumberger were worth $4,115,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. grew its position in shares of Schlumberger by 4.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 14,087 shares of the oil and gas company’s stock worth $733,000 after acquiring an additional 604 shares during the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Schlumberger during the fourth quarter worth about $980,000. Quadrature Capital Ltd grew its position in Schlumberger by 321.6% in the 4th quarter. Quadrature Capital Ltd now owns 266,724 shares of the oil and gas company’s stock valued at $13,880,000 after buying an additional 203,456 shares in the last quarter. Grayhawk Investment Strategies Inc. bought a new position in Schlumberger in the 4th quarter valued at about $962,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Schlumberger in the 4th quarter valued at about $7,529,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLB. Bank of America decreased their target price on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets decreased their target price on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Wells Fargo & Company lowered shares of Schlumberger from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Royal Bank of Canada increased their target price on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Finally, HSBC reiterated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.06.

Schlumberger Trading Up 2.5 %

SLB stock traded up $1.07 during mid-day trading on Tuesday, reaching $44.70. 5,490,305 shares of the stock traded hands, compared to its average volume of 11,068,998. 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 52-week low of $42.61 and a 52-week high of $62.12. The company has a market cap of $63.89 billion, a P/E ratio of 14.50, a P/E/G ratio of 0.83 and a beta of 1.58. The stock’s fifty day moving average is $47.76 and its 200-day moving average is $49.84.

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

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio is 36.54%.

Insider Transactions at Schlumberger

In other news, insider Gavin Rennick sold 38,083 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the sale, the insider now directly owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the transaction, the insider now owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now directly owns 33,421 shares in the company, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Insiders sold 106,158 shares of company stock valued at $5,099,893 over the last three months. 0.26% of the stock is owned by corporate insiders.

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.