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

First Hawaiian Bank cut its position in shares of Schlumberger Limited (NYSE:SLB) by 9.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,334 shares of the oil and gas company’s stock after selling 5,040 shares during the quarter. First Hawaiian Bank’s holdings in Schlumberger were worth $2,020,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLB. YANKCOM Partnership acquired a new position in Schlumberger during the fourth quarter worth $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger during the fourth quarter worth $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger during the fourth quarter worth $34,000. Hager Investment Management Services LLC acquired a new position in Schlumberger during the fourth quarter worth $38,000. Finally, True Wealth Design LLC raised its holdings in Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 842 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director now owns 23,525 shares of the company’s stock, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares of the company’s stock, valued at $1,311,990.68. The trade was a 44.75% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Performance

Schlumberger stock opened at $33.67 on Friday. The firm has a market capitalization of $45.79 billion, a P/E ratio of 10.83, a PEG ratio of 10.10 and a beta of 1.06. The stock has a fifty day moving average price of $35.48 and a 200 day moving average price of $39.09. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $8.49 billion for the quarter, compared to analysts’ expectations of $8.64 billion. During the same period last year, the firm posted $0.75 EPS. Schlumberger’s revenue was down 2.5% on a year-over-year basis. Equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is presently 38.64%.

Analyst Upgrades and Downgrades

SLB has been the subject of several research reports. Stifel Nicolaus reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, April 28th. Piper Sandler cut their price target on Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Susquehanna cut their price target on Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a report on Monday, April 28th. Wells Fargo & Company raised Schlumberger from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. Finally, Jefferies Financial Group cut their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, March 27th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $52.44.

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.