Schlumberger Limited (NYSE:SLB) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 12.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,185,534 shares of the oil and gas company's stock after selling 306,479 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.15% of Schlumberger worth $91,683,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC increased its holdings in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 484 shares in the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new stake in Schlumberger in the second quarter worth about $30,000. Riverview Trust Co raised its stake in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company's stock worth $31,000 after buying an additional 308 shares during the last quarter. Finally, First Community Trust NA lifted its stake in shares of Schlumberger by 264.0% in the 2nd quarter. First Community Trust NA now owns 728 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 528 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Price Performance

SLB stock traded up $0.43 during midday trading on Wednesday, hitting $43.53. The company's stock had a trading volume of 8,172,437 shares, compared to its average volume of 11,230,699. The firm has a market capitalization of $61.47 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52. The company has a 50 day moving average of $42.61 and a two-hundred day moving average of $44.60. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69.

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

Schlumberger Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.53%. Schlumberger's dividend payout ratio (DPR) is currently 35.37%.

Analyst Ratings Changes

Several equities research analysts have weighed in on SLB shares. TD Cowen cut their target price on shares of Schlumberger from $68.00 to $65.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Evercore ISI cut their price objective on shares of Schlumberger from $74.00 to $62.00 and set an "outperform" rating on the stock in a research report on Monday, October 21st. Bank of America lowered their price target 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. Dbs Bank initiated coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a "buy" rating and a $64.50 price target for the company. Finally, BMO Capital Markets dropped their target price on shares of Schlumberger from $60.00 to $58.00 and set an "outperform" rating on the stock in a report on Thursday, October 10th. Two 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $60.97.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 211,937 shares of the company's stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.