Schlumberger Limited (NYSE:SLB) Shares Purchased by First Hawaiian Bank

First Hawaiian Bank boosted its holdings in Schlumberger Limited (NYSE:SLB) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,262 shares of the oil and gas company’s stock after purchasing an additional 961 shares during the quarter. First Hawaiian Bank’s holdings in Schlumberger were worth $2,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SLB. Register Financial Advisors LLC acquired a new position in shares of Schlumberger in the 1st quarter valued at $27,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Schlumberger in the 4th quarter valued at approximately $26,000. Manchester Capital Management LLC raised its stake in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of Schlumberger in the 4th quarter valued at approximately $32,000. Finally, Rational Advisors LLC bought a new position in shares of Schlumberger in the 1st quarter valued at approximately $35,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on SLB shares. BMO Capital Markets cut their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Barclays lowered their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.56.

Insider Activity at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the sale, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The disclosure for this sale can be found here. Insiders have sold a total of 286,874 shares of company stock valued at $14,148,517 in the last 90 days. 0.26% of the stock is owned by corporate insiders.

Schlumberger Price Performance

SLB stock traded down $1.16 during trading on Monday, hitting $43.77. The company had a trading volume of 13,007,052 shares, compared to its average volume of 11,026,142. The company has a fifty day moving average price of $46.31 and a two-hundred day moving average price of $48.92. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a market cap of $62.15 billion, a P/E ratio of 14.41, a P/E/G ratio of 0.99 and a beta of 1.55. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 EPS. Equities research analysts expect that Schlumberger Limited will post 3.49 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 10th. Investors of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.51%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is 36.54%.

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.