PNC Financial Services Group Inc. Raises Stake in Schlumberger Limited (NYSE:SLB)

Key Points

• PNC Financial Services Group Inc. increased its stake in Schlumberger Limited by 2.8%, bringing its total shares to approximately 1,085,559, valued at $45.4 million.
• Schlumberger recently reported earnings of $0.74 per share, surpassing analysts' expectations, but its quarterly revenue decreased by 6.5% year-over-year.
• The company has announced a quarterly dividend of $0.285, with a dividend yield of 3.5%, payable on October 9th.

PNC Financial Services Group Inc. boosted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,085,559 shares of the oil and gas company's stock after buying an additional 29,297 shares during the period. PNC Financial Services Group Inc. owned approximately 0.08% of Schlumberger worth $45,376,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. First Command Advisory Services Inc. lifted 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 acquiring an additional 477 shares during the period. Alpine Bank Wealth Management acquired a new position in Schlumberger in the first quarter valued at approximately $34,000. Park Square Financial Group LLC acquired a new position in Schlumberger in the first quarter valued at approximately $38,000. N.E.W. Advisory Services LLC acquired a new position in Schlumberger in the first quarter valued at approximately $40,000. Finally, Sound Income Strategies LLC raised its stake in shares of Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock worth $40,000 after buying an additional 698 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

SLB has been the subject of a number of research analyst reports. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Morgan Stanley reduced their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, UBS Group increased their price objective on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and a consensus target price of $49.28.

Schlumberger Stock Down 2.2%

Shares of SLB opened at $33.04 on Monday. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.16. The company has a market capitalization of $44.65 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 9.17 and a beta of 1.03. The stock has a fifty day simple moving average of $34.78 and a two-hundred day simple moving average of $37.18. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

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

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Insider Activity

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares of the company's stock, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by company insiders.

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.

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