Central Bank & Trust Co. Trims Holdings in Schlumberger Limited (NYSE:SLB)

Central Bank & Trust Co. reduced its stake in Schlumberger Limited (NYSE:SLB) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,419 shares of the oil and gas company’s stock after selling 336 shares during the quarter. Central Bank & Trust Co.’s holdings in Schlumberger were worth $311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Capital World Investors raised its stake in Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after buying an additional 10,606,191 shares during the last quarter. Boston Partners raised its position in shares of Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after buying an additional 3,069,395 shares during the period. Ceredex Value Advisors LLC acquired a new position in Schlumberger in the second quarter valued at approximately $92,944,000. Finally, 1832 Asset Management L.P. purchased a new position in Schlumberger in the second quarter worth approximately $91,364,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Up 0.6 %

Shares of NYSE SLB opened at $40.55 on Wednesday. The stock has a market cap of $57.26 billion, a P/E ratio of 13.04, a PEG ratio of 1.40 and a beta of 1.52. The business’s fifty day simple moving average is $42.25 and its 200-day simple moving average is $44.97. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $57.47. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. As a group, equities analysts predict that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.71%. Schlumberger’s dividend payout ratio is currently 35.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SLB shares. Susquehanna reduced their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Piper Sandler reduced their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Barclays lowered their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Finally, Morgan Stanley lowered 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. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.97.

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.