Central Pacific Bank Trust Division Has $209,000 Stock Position in Schlumberger Limited (NYSE:SLB)

Central Pacific Bank Trust Division trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 88.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the oil and gas company's stock after selling 38,403 shares during the period. Central Pacific Bank Trust Division's holdings in Schlumberger were worth $209,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SLB. Brighton Jones LLC boosted its holdings in shares of Schlumberger by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after purchasing an additional 1,166 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in Schlumberger by 7.3% during the 4th quarter. Perigon Wealth Management LLC now owns 16,859 shares of the oil and gas company's stock valued at $693,000 after purchasing an additional 1,146 shares in the last quarter. Caprock Group LLC increased its position in shares of Schlumberger by 11.6% during the fourth quarter. Caprock Group LLC now owns 29,802 shares of the oil and gas company's stock worth $1,151,000 after acquiring an additional 3,090 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in Schlumberger during the 4th quarter worth approximately $47,000. Finally, Scharf Investments LLC bought a new stake in shares of Schlumberger in the fourth quarter worth $52,607,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Up 0.9%

NYSE:SLB traded up $0.30 during mid-day trading on Monday, reaching $33.35. The stock had a trading volume of 12,677,475 shares, compared to its average volume of 13,498,959. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock has a market cap of $45.35 billion, a P/E ratio of 10.72, a PEG ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The business's 50 day moving average is $35.29 and its 200 day moving average is $38.95.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same period in the prior year, the company posted $0.75 EPS. The business's revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.42%. Schlumberger's payout ratio is presently 38.64%.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the firm's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the transaction, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director now directly owns 23,525 shares of the company's stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SLB. Barclays dropped their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Morgan Stanley decreased their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $46.00 to $44.00 in a research report on Tuesday, April 8th. Piper Sandler dropped their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Stifel Nicolaus cut their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and a consensus target price of $52.44.

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.