Central Pacific Bank Trust Division Grows Stake in Schlumberger Limited (NYSE:SLB)

Central Pacific Bank Trust Division boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 8.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,363 shares of the oil and gas company’s stock after purchasing an additional 3,366 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Schlumberger were worth $1,903,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SLB. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger in the 1st quarter worth about $27,000. Manchester Capital Management LLC lifted its holdings in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Schlumberger in the fourth quarter valued at approximately $32,000. Finally, Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

SLB opened at $43.94 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.20. The company has a 50-day moving average of $43.48 and a 200-day moving average of $46.87. The company has a market capitalization of $62.39 billion, a P/E ratio of 14.60, a PEG ratio of 0.90 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Equities analysts expect that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of analyst reports. TD Cowen boosted their price target on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Evercore ISI boosted their target price on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. UBS Group reduced their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. 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 note on Monday, September 16th. Finally, Susquehanna decreased their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

Insider Buying and Selling at Schlumberger

In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The disclosure for this sale can be found here. Insiders sold a total of 180,716 shares of company stock worth $9,048,624 over the last 90 days. 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.