First Hawaiian Bank Increases Holdings in Schlumberger Limited (NYSE:SLB)

First Hawaiian Bank increased its position in shares of Schlumberger Limited (NYSE:SLB) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,374 shares of the oil and gas company’s stock after purchasing an additional 1,064 shares during the quarter. First Hawaiian Bank’s holdings in Schlumberger were worth $2,046,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. 1832 Asset Management L.P. purchased a new stake in shares of Schlumberger in the 2nd quarter valued at $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Schlumberger by 20.6% during the third 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 valued at $470,425,000 after purchasing an additional 1,916,851 shares during the period. Legal & General Group Plc boosted its holdings in Schlumberger by 14.0% in the second 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 last quarter. Dimensional Fund Advisors LP grew its position in Schlumberger by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock worth $333,445,000 after purchasing an additional 915,705 shares during the period. Finally, Merewether Investment Management LP purchased a new position in shares of Schlumberger during the 2nd quarter valued at about $42,957,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated 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 sale, 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 Stock Performance

NYSE:SLB opened at $38.77 on Thursday. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a market cap of $54.75 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.42 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $41.02 and its 200-day moving average price is $43.19.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Analyst Ratings Changes

A number of analysts have recently commented on SLB shares. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Dbs Bank started coverage on Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective on the stock. Stifel Nicolaus cut their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Barclays lowered their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Finally, TD Cowen cut their price objective on shares of Schlumberger from $65.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $57.58.

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.