Park Place Capital Corp Increases Holdings in Schlumberger Limited $SLB

Key Points

• Park Place Capital Corp dramatically increased its holdings in Schlumberger Limited by 7,707.1%, owning 27,325 shares worth approximately $962,000 after buying an additional 26,975 shares in the second quarter.
• Recent insider trading reveals Dianne B. Ralston sold 39,727 shares at an average price of $36.08, leading to a 16.42% decrease in her position.
• Schlumberger reported a quarterly EPS of $0.74, slightly exceeding analyst expectations, but its revenue of $8.55 billion was down 6.5% year-over-year.

Park Place Capital Corp increased its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 7,707.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,325 shares of the oil and gas company's stock after buying an additional 26,975 shares during the quarter. Park Place Capital Corp's holdings in Schlumberger were worth $962,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Brighton Jones LLC raised its position in Schlumberger by 21.4% in the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock valued at $253,000 after purchasing an additional 1,166 shares during the period. Bison Wealth LLC purchased a new stake in Schlumberger in the fourth quarter valued at $238,000. Versant Capital Management Inc raised its position in Schlumberger by 114.2% in the first quarter. Versant Capital Management Inc now owns 3,209 shares of the oil and gas company's stock valued at $134,000 after purchasing an additional 1,711 shares during the period. GAMMA Investing LLC raised its position in Schlumberger by 5,982.4% in the first quarter. GAMMA Investing LLC now owns 905,848 shares of the oil and gas company's stock valued at $37,864,000 after purchasing an additional 890,955 shares during the period. Finally, Parallel Advisors LLC raised its position in Schlumberger by 4.5% in the first quarter. Parallel Advisors LLC now owns 25,900 shares of the oil and gas company's stock valued at $1,083,000 after purchasing an additional 1,117 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Buying and Selling

In related news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares of the company's stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on SLB shares. Jefferies Financial Group reduced their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Melius started coverage on Schlumberger in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective for the company. Wells Fargo & Company cut Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Piper Sandler dropped their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Finally, Stifel Nicolaus dropped their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $52.18.

Schlumberger Trading Down 1.2%

SLB opened at $35.11 on Tuesday. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15. The stock has a market capitalization of $52.44 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 9.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The business has a fifty day moving average price of $34.68 and a 200 day moving average price of $35.29.

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

Schlumberger Dividend Announcement

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

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.

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