Schlumberger Limited (NYSE:SLB) Shares Sold by First American Trust FSB

Key Points

• First American Trust FSB significantly reduced its holdings in Schlumberger Limited by 83.1%, now owning only 19,420 shares after selling 95,517 shares during the first quarter.
• Schlumberger had a quarterly net margin of 11.53% and reported $0.74 EPS, exceeding analysts' expectations of $0.73.
• The company recently announced a quarterly dividend of $0.285 per share, representing an annualized yield of 3.5% and is scheduled to be paid on October 9th.

First American Trust FSB lessened its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 83.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,420 shares of the oil and gas company's stock after selling 95,517 shares during the period. First American Trust FSB's holdings in Schlumberger were worth $812,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Schlumberger by 478.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after purchasing an additional 39,474,501 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Schlumberger by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock valued at $2,913,312,000 after purchasing an additional 5,225,828 shares in the last quarter. Nuveen LLC purchased a new stake in Schlumberger in the 1st quarter valued at approximately $169,232,000. Lazard Asset Management LLC boosted its holdings in Schlumberger by 3,112.1% in the 4th quarter. Lazard Asset Management LLC now owns 3,627,051 shares of the oil and gas company's stock valued at $139,059,000 after purchasing an additional 3,514,134 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Schlumberger by 12.2% in the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock valued at $1,101,804,000 after purchasing an additional 3,119,543 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLB. Morgan Stanley lowered their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Jefferies Financial Group decreased their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Stifel Nicolaus decreased their price target on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Finally, UBS Group upped their target price on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $49.28.

Insider Activity at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

Schlumberger Stock Up 1.8%

NYSE SLB traded up $0.60 during trading hours on Wednesday, hitting $33.54. The company had a trading volume of 10,367,473 shares, compared to its average volume of 16,437,455. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.16. The company has a market capitalization of $45.32 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 8.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The firm's 50 day moving average is $34.68 and its 200 day moving average is $36.74.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm's revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 EPS. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.4%. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

About Schlumberger

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.