First Western Trust Bank Sells 16,283 Shares of Schlumberger Limited (NYSE:SLB)

First Western Trust Bank cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 9.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 164,030 shares of the oil and gas company’s stock after selling 16,283 shares during the quarter. Schlumberger comprises 0.3% of First Western Trust Bank’s portfolio, making the stock its 26th biggest holding. First Western Trust Bank’s holdings in Schlumberger were worth $6,881,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Acadian Asset Management LLC raised its position in shares of Schlumberger by 4.1% in the first quarter. Acadian Asset Management LLC now owns 8,638 shares of the oil and gas company’s stock valued at $471,000 after buying an additional 337 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Schlumberger by 276.6% during the 1st quarter. Edgestream Partners L.P. now owns 53,345 shares of the oil and gas company’s stock valued at $2,924,000 after acquiring an additional 39,181 shares in the last quarter. Trustmark National Bank Trust Department boosted its stake in shares of Schlumberger by 7.4% during the first quarter. Trustmark National Bank Trust Department now owns 18,716 shares of the oil and gas company’s stock valued at $1,026,000 after purchasing an additional 1,282 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Schlumberger by 19.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 123,836 shares of the oil and gas company’s stock worth $6,787,000 after acquiring an additional 20,138 shares during the last quarter. Finally, UniSuper Management Pty Ltd grew its stake in shares of Schlumberger by 220.5% in the first quarter. UniSuper Management Pty Ltd now owns 37,695 shares of the oil and gas company’s stock worth $2,066,000 after purchasing an additional 25,934 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SLB has been the topic of several analyst reports. Dbs Bank started coverage on Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Bank of America dropped their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Evercore ISI cut their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating, seventeen have given 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 an average target price of $60.97.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

NYSE SLB opened at $43.18 on Monday. 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 cap of $60.98 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The firm’s 50-day simple moving average is $42.40 and its two-hundred day simple moving average is $44.67.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the firm earned $0.78 EPS. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 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.