First Western Trust Bank Has $6.88 Million Stake in Schlumberger Limited (NYSE:SLB)

First Western Trust Bank reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 9.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,030 shares of the oil and gas company’s stock after selling 16,283 shares during the period. Schlumberger accounts for approximately 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC raised its stake in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares during the last quarter. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger in the second quarter valued at approximately $30,000. Riverview Trust Co lifted its stake in shares of Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares during the last quarter. Finally, First Community Trust NA boosted its holdings in shares of Schlumberger by 264.0% during the 2nd quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock worth $34,000 after buying an additional 528 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SLB. Barclays dropped their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Evercore ISI decreased their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. JPMorgan Chase & Co. dropped their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Finally, Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Two research 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.97.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.6 %

NYSE:SLB opened at $43.18 on Monday. The stock’s fifty day simple moving average is $42.40 and its 200-day simple moving average is $44.67. 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 firm has a market capitalization of $60.98 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.52 and a beta of 1.52. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69.

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

Schlumberger Announces Dividend

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