First American Trust FSB Decreases Stock Holdings in Schlumberger Limited (NYSE:SLB)

First American Trust FSB lessened its stake in Schlumberger Limited (NYSE:SLB) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,937 shares of the oil and gas company’s stock after selling 2,908 shares during the period. First American Trust FSB’s holdings in Schlumberger were worth $4,407,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. YANKCOM Partnership bought a new stake in shares of Schlumberger in the fourth quarter worth $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger during the 4th quarter valued at about $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at about $34,000. Hager Investment Management Services LLC bought a new position in shares of Schlumberger in the 4th quarter worth approximately $38,000. Finally, Bogart Wealth LLC lifted its stake in shares of Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at $2,192,657.28. The trade was a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,772 shares of company stock worth $12,546,660. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $41.73 on Tuesday. The company has a market cap of $56.74 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The stock’s 50 day simple moving average is $41.22 and its two-hundred day simple moving average is $41.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. Schlumberger’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.73%. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Analysts Set New Price Targets

SLB has been the subject of a number of research reports. Barclays reduced their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. upped their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. TD Cowen raised their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Evercore ISI reissued an “in-line” rating and set a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average price target of $55.81.

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.