Public Employees Retirement System of Ohio Has $23 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Public Employees Retirement System of Ohio reduced its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 599,861 shares of the oil and gas company's stock after selling 37,358 shares during the period. Public Employees Retirement System of Ohio's holdings in Schlumberger were worth $22,999,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. YANKCOM Partnership purchased a new position in Schlumberger in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC bought a new position in shares of Schlumberger during the 4th quarter valued at about $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger during the 4th quarter valued at approximately $34,000. Hager Investment Management Services LLC purchased a new position in shares of Schlumberger in the 4th quarter worth $38,000. Finally, True Wealth Design LLC lifted its holdings in shares of Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 842 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director now directly owns 23,525 shares of the company's stock, valued at approximately $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the transaction, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

SLB has been the subject of a number of analyst reports. Wells Fargo & Company upgraded Schlumberger from an "equal weight" rating to an "overweight" rating and lowered their price target for the stock from $46.00 to $44.00 in a research report on Tuesday, April 8th. Barclays lowered their price objective on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Piper Sandler cut their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Susquehanna lowered their target price on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a report on Monday, April 28th. Finally, Morgan Stanley cut their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.44.

Schlumberger Price Performance

Shares of SLB stock traded down $0.68 during mid-day trading on Friday, reaching $33.01. The stock had a trading volume of 5,251,849 shares, compared to its average volume of 13,557,878. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The business has a 50-day simple moving average of $35.48 and a 200 day simple moving average of $39.09. The company has a market cap of $44.89 billion, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same period in the prior year, the business earned $0.75 EPS. The business's revenue for the quarter was down 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is 38.64%.

Schlumberger Company 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.