First Hawaiian Bank Cuts Stock Position in Schlumberger Limited (NYSE:SLB)

First Hawaiian Bank cut its holdings in Schlumberger Limited (NYSE:SLB) by 6.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,301 shares of the oil and gas company’s stock after selling 3,419 shares during the quarter. First Hawaiian Bank’s holdings in Schlumberger were worth $2,702,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SLB. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth approximately $26,000. Transcendent Capital Group LLC acquired a new position in Schlumberger during the fourth quarter worth $32,000. Janiczek Wealth Management LLC boosted its stake in Schlumberger by 1,180.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after buying an additional 602 shares during the last quarter. Pinnacle Bancorp Inc. boosted its stake in Schlumberger by 64.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after buying an additional 292 shares during the last quarter. Finally, American National Bank boosted its stake in Schlumberger by 745.5% during the fourth quarter. American National Bank now owns 744 shares of the oil and gas company’s stock worth $39,000 after buying an additional 656 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Price Performance

Shares of NYSE SLB opened at $44.44 on Thursday. Schlumberger Limited has a 1-year low of $42.61 and a 1-year high of $62.12. The company has a market cap of $63.52 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 0.86 and a beta of 1.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The stock’s 50-day moving average is $47.37 and its two-hundred day moving average is $49.75.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. Analysts forecast that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is presently 36.54%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Susquehanna reaffirmed a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. BMO Capital Markets decreased their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Bank of America decreased their price target on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. HSBC reaffirmed a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a research note on Thursday, April 4th. Finally, Royal Bank of Canada upped their price target on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $69.06.

Insider Activity

In related news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the transaction, the insider now owns 45,851 shares in the company, valued at approximately $2,213,686.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the sale, the insider now directly owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,158 shares of company stock worth $5,099,893. 0.26% of the stock is currently owned by insiders.

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.