Wesbanco Bank Inc. Cuts Stake in Schlumberger Limited (NYSE:SLB)

Wesbanco Bank Inc. trimmed its stake in Schlumberger Limited (NYSE:SLB) by 4.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,487 shares of the oil and gas company’s stock after selling 414 shares during the quarter. Wesbanco Bank Inc.’s holdings in Schlumberger were worth $398,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital World Investors grew its stake in shares of Schlumberger by 72.3% during the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after buying an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Schlumberger by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after acquiring an additional 10,606,191 shares during the last quarter. Boston Partners raised its holdings in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the period. Ceredex Value Advisors LLC acquired a new position in shares of Schlumberger in the 2nd quarter valued at about $92,944,000. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Schlumberger during the 2nd quarter worth about $91,364,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

SLB opened at $43.67 on Thursday. The company has a market capitalization of $62.42 billion, a P/E ratio of 14.51, a PEG ratio of 0.96 and a beta of 1.51. The company has a 50-day moving average of $43.13 and a 200-day moving average of $46.18. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.20.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Equities analysts expect that Schlumberger Limited will post 3.47 EPS for the current fiscal year.

Analyst Ratings Changes

SLB has been the topic of several research reports. Morgan Stanley cut their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. TD Cowen lifted their target price on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Dbs Bank began coverage on Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target for the company. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Piper Sandler lowered their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.97.

Insider Activity at Schlumberger

In other Schlumberger 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 value of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,716 shares of company stock valued at $9,048,624. Corporate insiders own 0.26% of the company’s stock.

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.