Huntington National Bank decreased its position in shares of Schlumberger Limited. (NYSE:SLB) by 14.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,086 shares of the oil and gas company’s stock after selling 22,409 shares during the quarter. Huntington National Bank’s holdings in Schlumberger were worth $8,047,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC lifted its stake in Schlumberger by 5.3% in the second quarter. Capital Investment Advisors LLC now owns 14,461 shares of the oil and gas company’s stock valued at $969,000 after buying an additional 733 shares in the last quarter. IHT Wealth Management LLC lifted its stake in Schlumberger by 11.0% in the first quarter. IHT Wealth Management LLC now owns 7,588 shares of the oil and gas company’s stock valued at $482,000 after buying an additional 751 shares in the last quarter. Portland Global Advisors LLC lifted its stake in Schlumberger by 2.8% in the second quarter. Portland Global Advisors LLC now owns 28,240 shares of the oil and gas company’s stock valued at $1,893,000 after buying an additional 770 shares in the last quarter. First Merchants Corp lifted its stake in Schlumberger by 1.4% in the second quarter. First Merchants Corp now owns 54,946 shares of the oil and gas company’s stock valued at $3,683,000 after buying an additional 778 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. lifted its stake in Schlumberger by 0.5% in the second quarter. Guyasuta Investment Advisors Inc. now owns 165,349 shares of the oil and gas company’s stock valued at $11,083,000 after buying an additional 809 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the stock. Bank of America assumed coverage on shares of Schlumberger in a research report on Wednesday. They issued a “buy” rating on the stock. Stephens assumed coverage on shares of Schlumberger in a research report on Friday, October 12th. They issued a “weight” rating on the stock. Wolfe Research assumed coverage on shares of Schlumberger in a research report on Wednesday, October 10th. They issued a “market perform” rating on the stock. ValuEngine raised shares of Schlumberger from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, Macquarie set a $71.00 price objective on shares of Schlumberger and gave the stock a “hold” rating in a research report on Tuesday, October 2nd. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $78.90.
In other news, Director Michael E. Marks bought 8,000 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were acquired at an average cost of $60.31 per share, for a total transaction of $482,480.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is currently owned by insiders.
Shares of SLB opened at $58.47 on Friday. The firm has a market cap of $82.00 billion, a P/E ratio of 38.98, a PEG ratio of 5.65 and a beta of 0.93. Schlumberger Limited. has a 1-year low of $57.59 and a 1-year high of $80.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.12.
Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.57 billion. Schlumberger had a negative net margin of 2.34% and a positive return on equity of 6.25%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. On average, analysts predict that Schlumberger Limited. will post 1.75 earnings per share for the current year.
Schlumberger Company Profile
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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