Park Avenue Securities LLC Has $956,000 Stock Holdings in Schlumberger Limited $SLB

Park Avenue Securities LLC cut its position in Schlumberger Limited (NYSE:SLB) by 1.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 28,275 shares of the oil and gas company’s stock after selling 520 shares during the quarter. Park Avenue Securities LLC’s holdings in Schlumberger were worth $956,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. BTC Capital Management Inc. raised its stake in Schlumberger by 47.3% during the 2nd quarter. BTC Capital Management Inc. now owns 20,438 shares of the oil and gas company’s stock valued at $691,000 after purchasing an additional 6,563 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in Schlumberger by 3.3% in the 2nd quarter. Wedge Capital Management L L P NC now owns 560,249 shares of the oil and gas company’s stock valued at $18,936,000 after buying an additional 17,711 shares during the period. Busey Bank increased its holdings in Schlumberger by 0.7% in the 2nd quarter. Busey Bank now owns 358,170 shares of the oil and gas company’s stock valued at $12,106,000 after buying an additional 2,548 shares during the period. Silver Oak Securities Incorporated increased its holdings in Schlumberger by 40.6% in the 2nd quarter. Silver Oak Securities Incorporated now owns 10,355 shares of the oil and gas company’s stock valued at $350,000 after buying an additional 2,989 shares during the period. Finally, My Legacy Advisors LLC increased its holdings in Schlumberger by 17.1% in the 2nd quarter. My Legacy Advisors LLC now owns 7,256 shares of the oil and gas company’s stock valued at $266,000 after buying an additional 1,062 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction that occurred on 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 $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

Shares of SLB stock opened at $35.51 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The company has a market capitalization of $53.04 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 9.60 and a beta of 1.05. The company’s 50 day moving average price is $34.65 and its two-hundred day moving average price is $35.40. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.15.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the business earned $0.85 EPS. On average, analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is currently 39.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Melius assumed coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target on the stock. UBS Group lowered their target price on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Piper Sandler lowered their target price on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Barclays lowered their target price on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, July 21st. Finally, Susquehanna lowered their target price on shares of Schlumberger from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus 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.