Huntington National Bank trimmed its stake in shares of Schlumberger Limited. (NYSE:SLB) by 15.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,661 shares of the oil and gas company’s stock after selling 11,702 shares during the quarter. Huntington National Bank’s holdings in Schlumberger were worth $2,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Fulcrum Capital LLC bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $7,301,000. Quad Cities Investment Group LLC bought a new stake in shares of Schlumberger in the 2nd quarter worth approximately $32,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Schlumberger in the 2nd quarter worth approximately $32,000. Doyle Wealth Management bought a new stake in shares of Schlumberger during the second quarter valued at approximately $33,000. Finally, Shamrock Asset Management LLC boosted its position in shares of Schlumberger by 49.6% during the second quarter. Shamrock Asset Management LLC now owns 1,061 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 352 shares in the last quarter. Institutional investors and hedge funds own 76.52% of the company’s stock.
In other news, VP Simon Farrant sold 5,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $33.55, for a total value of $167,750.00. Following the completion of the transaction, the vice president now owns 20,316 shares in the company, valued at $681,601.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is owned by insiders.
NYSE:SLB traded up $0.21 during trading hours on Friday, reaching $36.29. 4,454,321 shares of the company traded hands, compared to its average volume of 13,520,074. The business’s 50-day moving average price is $33.99 and its two-hundred day moving average price is $36.72. The stock has a market capitalization of $50.83 billion, a P/E ratio of 22.40, a P/E/G ratio of 3.45 and a beta of 1.49. Schlumberger Limited. has a 1 year low of $30.65 and a 1 year high of $52.58. The company has a current ratio of 1.29, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.03. The business had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Schlumberger had a positive return on equity of 6.00% and a negative net margin of 30.22%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. As a group, equities analysts anticipate that Schlumberger Limited. will post 1.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date is Tuesday, December 3rd. Schlumberger’s payout ratio is 123.46%.
Several equities research analysts recently weighed in on the company. Barclays set a $47.00 price target on Schlumberger and gave the company a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. dropped their price target on Schlumberger from $41.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Wells Fargo & Co dropped their price target on Schlumberger from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Morgan Stanley set a $50.00 price target on Schlumberger and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, ValuEngine upgraded Schlumberger from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $44.82.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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