Trust Co. of Toledo NA OH Has $2.32 Million Stock Holdings in Schlumberger Limited $SLB

Trust Co. of Toledo NA OH lessened its stake in Schlumberger Limited (NYSE:SLB) by 1.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 68,737 shares of the oil and gas company’s stock after selling 813 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Schlumberger were worth $2,323,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SLB. Charles Schwab Investment Management Inc. lifted its stake in Schlumberger by 478.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after acquiring an additional 39,474,501 shares during the last quarter. Boston Partners lifted its stake in Schlumberger by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after purchasing an additional 4,300,222 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in Schlumberger by 211.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock valued at $250,507,000 after purchasing an additional 4,066,500 shares during the last quarter. Nuveen LLC acquired a new stake in Schlumberger in the 1st quarter valued at about $169,232,000. Finally, Banque Transatlantique SA lifted its position in shares of Schlumberger by 21,737.8% in the first quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock valued at $71,821,000 after buying an additional 1,850,760 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares in the company, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SLB. Jefferies Financial Group cut their price objective on Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Barclays cut their target price on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, July 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Schlumberger in a research report on Wednesday. Piper Sandler cut their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Finally, Wells Fargo & Company downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.18.

Schlumberger Stock Down 4.2%

NYSE SLB opened at $31.75 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $44.97. The company has a 50 day moving average of $34.53 and a 200-day moving average of $34.91. The company has a market cap of $47.42 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 9.21 and a beta of 0.97.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. On average, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd were paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 3rd. Schlumberger’s payout ratio is 39.04%.

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.