Trust Co. of Toledo NA OH Purchases 7,968 Shares of Schlumberger Limited (NYSE:SLB)

Trust Co. of Toledo NA OH grew its position in Schlumberger Limited (NYSE:SLB) by 12.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,660 shares of the oil and gas company’s stock after buying an additional 7,968 shares during the period. Trust Co. of Toledo NA OH’s holdings in Schlumberger were worth $3,006,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SLB. Register Financial Advisors LLC bought a new stake in shares of Schlumberger in the first quarter worth about $27,000. Manchester Capital Management LLC raised its holdings in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares during the period. Bruce G. Allen Investments LLC raised its holdings in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares during the period. Transcendent Capital Group LLC bought a new position in Schlumberger in the fourth quarter valued at approximately $32,000. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger in the second quarter valued at approximately $30,000. Institutional investors own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock valued at $9,048,624 in the last 90 days. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SLB shares. Piper Sandler cut their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. UBS Group reduced their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.29.

Schlumberger Stock Performance

Schlumberger stock opened at $43.94 on Thursday. The stock has a market cap of $62.39 billion, a PE ratio of 14.60, a P/E/G ratio of 0.90 and a beta of 1.51. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $61.20. The business’s 50-day moving average price is $43.48 and its two-hundred day moving average price is $46.87.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the prior year, the company earned $0.72 EPS. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

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.