Schlumberger Limited (NYSE:SLB) Shares Sold by First Western Trust Bank

Key Points

• First Western Trust Bank has reduced its stake in Schlumberger Limited by 5.6%, now holding 139,385 shares worth approximately $5.83 million.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, representing an annual yield of 3.5%.
• In its latest quarterly earnings report, Schlumberger exceeded analysts' expectations with an EPS of $0.74, although its revenue decreased 6.5% year-over-year.

First Western Trust Bank trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 139,385 shares of the oil and gas company's stock after selling 8,252 shares during the quarter. Schlumberger accounts for about 0.3% of First Western Trust Bank's investment portfolio, making the stock its 25th biggest position. First Western Trust Bank's holdings in Schlumberger were worth $5,826,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC increased its holdings in Schlumberger by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after buying an additional 1,166 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Schlumberger by 11.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,258,554 shares of the oil and gas company's stock valued at $48,253,000 after buying an additional 131,586 shares during the last quarter. Invesco Ltd. increased its holdings in Schlumberger by 8.8% in the fourth quarter. Invesco Ltd. now owns 7,377,240 shares of the oil and gas company's stock valued at $282,843,000 after buying an additional 596,008 shares during the last quarter. Advisory Services Network LLC increased its holdings in Schlumberger by 15.3% in the fourth quarter. Advisory Services Network LLC now owns 72,977 shares of the oil and gas company's stock valued at $2,798,000 after buying an additional 9,672 shares during the last quarter. Finally, CenterBook Partners LP increased its holdings in Schlumberger by 91.6% in the fourth quarter. CenterBook Partners LP now owns 47,724 shares of the oil and gas company's stock valued at $1,830,000 after buying an additional 22,814 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SLB. Susquehanna lowered their price objective on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Morgan Stanley decreased their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Stifel Nicolaus decreased their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Finally, Jefferies Financial Group decreased their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and a consensus target price of $49.28.

Schlumberger Stock Performance

Shares of SLB traded up $0.11 during trading hours on Friday, reaching $32.90. 10,215,438 shares of the company's stock traded hands, compared to its average volume of 19,085,280. The firm has a market capitalization of $44.46 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 9.12 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. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.16. The business's fifty day simple moving average is $34.72 and its two-hundred day simple moving average is $36.84.

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

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.5%. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Schlumberger 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.