OLD National Bancorp IN Sells 3,238 Shares of Schlumberger Limited $SLB

OLD National Bancorp IN cut its holdings in Schlumberger Limited (NYSE:SLB) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 346,945 shares of the oil and gas company’s stock after selling 3,238 shares during the period. OLD National Bancorp IN’s holdings in Schlumberger were worth $11,727,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. EntryPoint Capital LLC raised its position in shares of Schlumberger by 4.5% during the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock valued at $307,000 after purchasing an additional 316 shares during the period. Heritage Wealth Management Inc. Texas raised its position in shares of Schlumberger by 2.2% during the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock valued at $616,000 after purchasing an additional 318 shares during the period. Horizon Investments LLC raised its position in shares of Schlumberger by 1.5% during the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock valued at $946,000 after purchasing an additional 330 shares during the period. CreativeOne Wealth LLC raised its position in shares of Schlumberger by 6.3% during the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after purchasing an additional 335 shares during the period. Finally, Forza Wealth Management LLC raised its position in shares of Schlumberger by 5.8% during the 1st quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 350 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $34.26 on Friday. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.15. The stock has a market capitalization of $51.17 billion, a P/E ratio of 11.73, a PEG ratio of 9.51 and a beta of 0.97. The firm has a fifty day simple moving average of $34.63 and a two-hundred day simple moving average of $35.15. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.51 billion. During the same period last year, the company posted $0.85 EPS. The business’s revenue was down 6.5% on a year-over-year basis. On average, analysts expect that Schlumberger Limited will post 3.38 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 9th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.3%. Schlumberger’s payout ratio is currently 39.04%.

Wall Street Analyst Weigh In

SLB has been the topic of several recent analyst reports. Piper Sandler decreased their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Schlumberger in a research note on Saturday, September 27th. UBS Group cut their target price on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Zacks Research raised shares of Schlumberger from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Melius started coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.18.

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.