First National Trust Co Lowers Holdings in Schlumberger Limited (NYSE:SLB)

First National Trust Co cut its stake in Schlumberger Limited (NYSE:SLB) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,992 shares of the oil and gas company’s stock after selling 644 shares during the quarter. First National Trust Co’s holdings in Schlumberger were worth $1,132,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bruce G. Allen Investments LLC boosted its stake in shares of 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 acquiring an additional 392 shares in the last quarter. ORG Partners LLC raised its position in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the period. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger during the 2nd quarter worth about $30,000. Riverview Trust Co lifted its position in shares of Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares in the last quarter. Finally, First Community Trust NA lifted its holdings in Schlumberger by 264.0% in the 2nd quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 528 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Up 0.1 %

SLB opened at $44.34 on Wednesday. The stock’s 50 day moving average price is $42.22 and its 200 day moving average price is $44.80. The stock has a market cap of $62.61 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.56 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, research analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SLB shares. TD Cowen decreased their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Barclays cut their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Evercore ISI cut their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Finally, Benchmark restated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger currently has an average 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.