Trust Co. of Toledo NA OH Cuts Position in Schlumberger Limited (NYSE:SLB)

Trust Co. of Toledo NA OH decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,758 shares of the oil and gas company’s stock after selling 3,902 shares during the period. Trust Co. of Toledo NA OH’s holdings in Schlumberger were worth $2,598,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. ORG Partners LLC grew its position in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Schlumberger during the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger in the 3rd quarter worth $37,000. DiNuzzo Private Wealth Inc. boosted its position in Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares during the period. Finally, J. Stern & Co. LLP bought a new position in shares of Schlumberger during the third quarter valued at about $47,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Up 3.0 %

Shares of NYSE SLB traded up $1.17 on Monday, reaching $39.79. 3,834,197 shares of the company’s stock traded hands, compared to its average volume of 9,921,695. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The business’s 50 day simple moving average is $40.97 and its two-hundred day simple moving average is $43.05. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a market cap of $56.19 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion for 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 company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. As a group, equities research analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th were issued a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.76%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent research reports. Morgan Stanley lowered their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Dbs Bank began coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target for the company. Finally, Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Five equities 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’s stock. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.58.

Schlumberger 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.