Huntington National Bank Boosts Holdings in Schlumberger Limited (NYSE:SLB)

Huntington National Bank increased its position in Schlumberger Limited (NYSE:SLB) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,147 shares of the oil and gas company’s stock after purchasing an additional 1,665 shares during the quarter. Huntington National Bank’s holdings in Schlumberger were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. ORG Partners LLC boosted its position in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in Schlumberger in the second quarter valued at about $30,000. Riverview Trust Co grew its stake in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares in the last quarter. Finally, First Community Trust NA increased its holdings in Schlumberger by 264.0% during the 2nd quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 528 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SLB. Stifel Nicolaus reiterated a “buy” rating and set a $60.00 target price (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Bank of America reduced their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Evercore ISI cut their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Finally, UBS Group decreased their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Price Performance

Shares of SLB opened at $43.18 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company has a market cap of $60.98 billion, a P/E ratio of 13.88, a PEG ratio of 1.54 and a beta of 1.52. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69. The stock has a fifty day moving average price of $42.35 and a 200 day moving average price of $44.75.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. On average, research analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.55%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

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.