Horizon Bancorp Inc. IN Sells 911 Shares of Schlumberger Limited (NYSE:SLB)

Horizon Bancorp Inc. IN decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 22.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,174 shares of the oil and gas company’s stock after selling 911 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Schlumberger were worth $122,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. ORG Partners LLC raised 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 purchasing an additional 484 shares during the period. Prospera Private Wealth LLC purchased a new stake in Schlumberger in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC bought a new stake in Schlumberger in the third quarter worth about $37,000. DiNuzzo Private Wealth Inc. boosted its position in shares of 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 purchased a new stake in shares of Schlumberger in the third quarter worth approximately $47,000. 81.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the business’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 transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SLB has been the topic of a number of recent analyst reports. Evercore ISI reduced their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Piper Sandler assumed coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Bank of America dropped their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.58.

Schlumberger Stock Performance

SLB opened at $39.84 on Tuesday. Schlumberger Limited has a 1 year low of $36.52 and a 1 year 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. The firm has a fifty day moving average price of $40.96 and a 200 day moving average price of $43.00. The stock has a market cap of $56.26 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.42 and a beta of 1.52.

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

Schlumberger Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.76%. Schlumberger’s payout ratio is currently 35.37%.

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.