Public Employees Retirement System of Ohio Decreases Holdings in Schlumberger Limited (NYSE:SLB)

Public Employees Retirement System of Ohio lowered its position in Schlumberger Limited (NYSE:SLB) by 6.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 670,237 shares of the oil and gas company’s stock after selling 48,965 shares during the period. Public Employees Retirement System of Ohio’s holdings in Schlumberger were worth $36,736,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC lifted its stake in Schlumberger by 53.5% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 683 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Schlumberger by 6.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after purchasing an additional 35,763 shares in the last quarter. National Bank of Canada FI lifted its stake in Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after purchasing an additional 51,637 shares in the last quarter. Sapient Capital LLC purchased a new stake in Schlumberger in the 4th quarter worth $1,389,000. Finally, Mission Wealth Management LP purchased a new stake in Schlumberger in the 1st quarter worth $245,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Piper Sandler decreased their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Susquehanna decreased their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th. Evercore ISI upped their target price on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Barclays dropped their target price on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Finally, Citigroup dropped their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. 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 data from MarketBeat, the company currently has an average 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 business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the completion of the sale, the insider now directly owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 286,874 shares of company stock worth $14,148,517. 0.26% of the stock is owned by insiders.

Schlumberger Stock Performance

Shares of NYSE SLB traded down $1.06 during midday trading on Monday, reaching $47.77. The company had a trading volume of 6,713,254 shares, compared to its average volume of 11,043,171. The business’s 50-day simple moving average is $46.32 and its 200 day simple moving average is $48.98. The stock has a market cap of $67.83 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.04 and a beta of 1.55. Schlumberger Limited has a 1 year low of $42.61 and a 1 year high of $62.12. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. The firm had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 earnings per share. On average, analysts forecast that Schlumberger Limited will post 3.5 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.30%. Schlumberger’s payout ratio is presently 36.54%.

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.