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

Central Pacific Bank Trust Division cut its position in Schlumberger Limited (NYSE:SLB) by 4.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 43,403 shares of the oil and gas company’s stock after selling 1,960 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Schlumberger were worth $1,664,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its stake in Schlumberger by 0.6% in the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after buying an additional 528,279 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Schlumberger by 0.8% during the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after purchasing an additional 239,966 shares in the last quarter. Legal & General Group Plc raised its stake in Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Schlumberger by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after purchasing an additional 31,718 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Up 0.3 %

Schlumberger stock traded up $0.10 during mid-day trading on Friday, hitting $38.50. The company’s stock had a trading volume of 5,445,233 shares, compared to its average volume of 8,420,029. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The stock has a market cap of $54.37 billion, a PE ratio of 12.38, a P/E/G ratio of 1.42 and a beta of 1.51. The company has a 50 day moving average of $41.19 and a 200-day moving average of $43.37. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping 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 business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period last year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SLB shares. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. Stifel Nicolaus cut their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Evercore ISI decreased 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. Piper Sandler assumed coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Finally, Citigroup reduced their price objective on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Five research 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.25.

Insider Activity

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 transaction of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.

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.