Park National Corp OH Raises Position in Schlumberger Limited (NYSE:SLB)

Park National Corp OH lifted its stake in Schlumberger Limited (NYSE:SLB) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 335,859 shares of the oil and gas company’s stock after purchasing an additional 4,501 shares during the quarter. Park National Corp OH’s holdings in Schlumberger were worth $15,846,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Capital World Investors grew its stake in shares of Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after buying an additional 37,333,485 shares during the last quarter. Norges Bank purchased a new position in Schlumberger during the fourth quarter valued at approximately $1,000,292,000. Price T Rowe Associates Inc. MD boosted its position in Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after acquiring an additional 10,606,191 shares in the last quarter. Winslow Capital Management LLC increased its holdings in shares of Schlumberger by 123,063.5% in the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after acquiring an additional 4,344,141 shares during the period. Finally, Boston Partners raised its position in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after acquiring an additional 3,069,395 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB traded up $0.35 during mid-day trading on Monday, hitting $43.90. The company’s stock had a trading volume of 6,593,698 shares, compared to its average volume of 10,904,113. The stock has a market cap of $62.75 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 0.92 and a beta of 1.55. The business’s fifty day moving average is $46.06 and its two-hundred day moving average is $48.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. Schlumberger Limited has a 1 year low of $42.61 and a 1 year high of $62.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. Analysts anticipate that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SLB. TD Cowen raised their price objective on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Citigroup cut their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $68.00 to $53.00 in a research report on Monday, April 29th. BMO Capital Markets cut their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Finally, Evercore ISI increased their price target on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $67.56.

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares in the company, valued at $10,141,615.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 286,874 shares of company stock worth $14,148,517. 0.26% of the stock is owned by corporate insiders.

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.