Park National Corp OH Lowers Position in Schlumberger Limited $SLB

Key Points

• Park National Corp OH has reduced its position in Schlumberger Limited by 7.8%, bringing its total shares to 273,810, valued at approximately $9.25 million.
• Schlumberger's stock has a consensus rating of "Moderate Buy", with a target price averaging $52.86, despite recent downgrades by analysts from firms such as Wells Fargo and UBS Group.
• The company reported an EPS of $0.74 for the last quarter, slightly surpassing analysts' predictions, but revenue decreased by 6.5% year-over-year.

Park National Corp OH trimmed its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 7.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 273,810 shares of the oil and gas company's stock after selling 23,041 shares during the quarter. Park National Corp OH's holdings in Schlumberger were worth $9,255,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. First Command Advisory Services Inc. grew its holdings in Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in Schlumberger in the first quarter valued at approximately $33,000. Alpine Bank Wealth Management purchased a new stake in Schlumberger in the first quarter valued at approximately $34,000. Park Square Financial Group LLC purchased a new stake in Schlumberger in the first quarter valued at approximately $38,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Schlumberger in the fourth quarter valued at approximately $40,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SLB. UBS Group lowered their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Wells Fargo & Company downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Piper Sandler decreased their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Finally, Jefferies Financial Group decreased their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.86.

Schlumberger Trading Down 1.2%

NYSE SLB opened at $35.58 on Friday. The company's fifty day simple moving average is $34.82 and its 200-day simple moving average is $35.79. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.15. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The stock has a market cap of $53.14 billion, a P/E ratio of 12.18, a PEG ratio of 10.00 and a beta of 1.05.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business's revenue for the quarter was down 6.5% compared to the same quarter last year. Equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is presently 39.04%.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company's stock.

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.