Schlumberger Limited $SLB Shares Sold by First Financial Bank Trust Division

Key Points

• First Financial Bank Trust Division reduced its holdings in Schlumberger Limited by 12.4%, owning 53,668 shares worth approximately $1.814 million after selling 7,617 shares in the 2nd quarter.
• Insider Dianne B. Ralston sold 39,727 shares at an average price of $36.08, decreasing her ownership by 16.42% and leaving her with a total of 202,201 shares valued at about $7.295 million.
• Schlumberger recently reported $0.74 EPS for the quarter, slightly beating expectations, while also declaring a quarterly dividend of $0.285 with a yield of 3.2%.

First Financial Bank Trust Division lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 12.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,668 shares of the oil and gas company's stock after selling 7,617 shares during the quarter. First Financial Bank Trust Division's holdings in Schlumberger were worth $1,814,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Command Advisory Services Inc. increased its holdings in Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after buying an additional 477 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Schlumberger in the 1st quarter worth approximately $33,000. Alpine Bank Wealth Management acquired a new position in Schlumberger in the 1st quarter worth approximately $34,000. Park Square Financial Group LLC acquired a new position in Schlumberger in the 1st quarter worth approximately $38,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Schlumberger in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Transactions at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SLB shares. UBS Group cut their price target on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Morgan Stanley dropped their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Barclays dropped their price objective on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Finally, Wells Fargo & Company cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Schlumberger currently has an average rating of "Moderate Buy" and an average price target of $52.86.

Schlumberger Price Performance

Schlumberger stock opened at $35.58 on Friday. The company's fifty day moving average price is $34.82 and its 200 day moving average price is $35.79. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.15. The stock has a market capitalization of $53.14 billion, a P/E ratio of 12.18, a P/E/G ratio of 10.00 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly 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. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. During the same quarter last year, the company earned $0.85 EPS. The firm's revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.