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

First Financial Bank Trust Division reduced its position in Schlumberger Limited (NYSE:SLB) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,154 shares of the oil and gas company’s stock after selling 7,820 shares during the quarter. First Financial Bank Trust Division’s holdings in Schlumberger were worth $2,421,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. Principal Financial Group Inc. lifted its stake in shares of Schlumberger by 8.0% in the third quarter. Principal Financial Group Inc. now owns 4,487,067 shares of the oil and gas company’s stock worth $188,232,000 after buying an additional 332,500 shares in the last quarter. Syntax Research Inc. acquired a new stake in Schlumberger in the 3rd quarter valued at about $3,491,000. Copley Financial Group Inc. purchased a new position in Schlumberger in the 3rd quarter worth approximately $515,000. Peapack Gladstone Financial Corp boosted its holdings in shares of Schlumberger by 15.0% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 268,008 shares of the oil and gas company’s stock worth $11,244,000 after purchasing an additional 34,861 shares during the last quarter. Finally, Synovus Financial Corp grew its position in shares of Schlumberger by 30.2% in the third quarter. Synovus Financial Corp now owns 109,717 shares of the oil and gas company’s stock valued at $4,603,000 after purchasing an additional 25,465 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group reduced their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Susquehanna lowered their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Morgan Stanley cut their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Bank of America cut their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.09.

Schlumberger Trading Up 0.2 %

NYSE SLB traded up $0.06 during trading on Thursday, hitting $38.40. The stock had a trading volume of 11,522,716 shares, compared to its average volume of 11,262,385. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $54.23 billion, a PE ratio of 12.35, a PEG ratio of 1.42 and a beta of 1.51. The firm has a 50 day moving average price of $41.24 and a 200 day moving average price of $43.40. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. As a group, equities research analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is currently 35.37%.

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.