Public Employees Retirement System of Ohio Sells 25,819 Shares of Schlumberger Limited $SLB

Public Employees Retirement System of Ohio cut its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 554,830 shares of the oil and gas company's stock after selling 25,819 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Schlumberger were worth $18,753,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norden Group LLC purchased a new stake in Schlumberger during the second quarter worth about $203,000. CHICAGO TRUST Co NA grew its position in shares of Schlumberger by 5.1% during the 2nd quarter. CHICAGO TRUST Co NA now owns 43,126 shares of the oil and gas company's stock valued at $1,458,000 after acquiring an additional 2,079 shares during the period. Farmers Trust Co. increased its stake in shares of Schlumberger by 0.7% during the 2nd quarter. Farmers Trust Co. now owns 95,678 shares of the oil and gas company's stock worth $3,234,000 after purchasing an additional 683 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Schlumberger during the 2nd quarter worth approximately $801,000. Finally, BTC Capital Management Inc. raised its holdings in shares of Schlumberger by 47.3% in the 2nd quarter. BTC Capital Management Inc. now owns 20,438 shares of the oil and gas company's stock worth $691,000 after purchasing an additional 6,563 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is currently owned by insiders.

Schlumberger Trading Down 0.1%

Shares of Schlumberger stock opened at $34.57 on Friday. The company's 50-day moving average price is $34.60 and its 200-day moving average price is $35.43. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15. The company has a market cap of $51.63 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 9.61 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 earnings per share 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 analyst estimates of $8.51 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. Schlumberger's revenue was down 6.5% on a year-over-year basis. On average, equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.3%. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

Analyst Ratings Changes

SLB has been the subject of several research reports. Jefferies Financial Group reduced their price objective on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Melius started coverage on Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target for the company. Stifel Nicolaus decreased their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Zacks Research upgraded Schlumberger from a "strong sell" rating to a "hold" rating in a research note on Monday, September 15th. Finally, Piper Sandler cut their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Schlumberger currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.18.

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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