Schlumberger Limited (NYSE:SLB) Position Reduced by Park National Corp OH

Park National Corp OH lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 3.3% during the fourth quarter, Holdings Channel reports. The fund owned 305,438 shares of the oil and gas company’s stock after selling 10,439 shares during the quarter. Park National Corp OH’s holdings in Schlumberger were worth $11,710,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. ORG Partners LLC raised its stake in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Schlumberger during the third quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new position in Schlumberger during the third quarter valued at $37,000. DiNuzzo Private Wealth Inc. lifted its stake in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in Schlumberger during the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling 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 shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 1.5 %

SLB stock opened at $39.33 on Wednesday. The stock has a market capitalization of $55.54 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. The company has a 50-day moving average of $41.05 and a two-hundred day moving average of $43.22. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is currently 35.37%.

Analyst Ratings Changes

SLB has been the subject of a number of research analyst reports. Citigroup reduced their price target on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. TD Cowen cut their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Evercore ISI cut their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Finally, Jefferies Financial Group lowered their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.25.

About Schlumberger

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.