Citizens Financial Group Inc. RI Sells 2,480 Shares of Schlumberger Limited (NYSE:SLB)

Citizens Financial Group Inc. RI lessened its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 185,017 shares of the oil and gas company’s stock after selling 2,480 shares during the period. Citizens Financial Group Inc. RI’s holdings in Schlumberger were worth $9,628,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Investment Advisory Services Inc. TX ADV boosted its holdings in shares of Schlumberger by 1.4% in the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 11,968 shares of the oil and gas company’s stock valued at $698,000 after purchasing an additional 171 shares in the last quarter. Stonegate Investment Group LLC boosted its holdings in shares of Schlumberger by 1.7% in the 3rd quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock valued at $633,000 after purchasing an additional 177 shares in the last quarter. CI Investments Inc. boosted its holdings in shares of Schlumberger by 4.9% in the 3rd quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 192 shares in the last quarter. Montgomery Investment Management Inc. boosted its holdings in shares of Schlumberger by 1.9% in the 3rd quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock valued at $637,000 after purchasing an additional 200 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Schlumberger by 3.8% in the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research reports. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. BMO Capital Markets dropped their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Bank of America dropped their price target on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Barclays dropped their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $69.67.

Schlumberger Trading Down 0.5 %

NYSE SLB opened at $49.20 on Friday. The business has a 50 day simple moving average of $51.74 and a 200 day simple moving average of $52.13. Schlumberger Limited has a one year low of $42.73 and a one year high of $62.12. The stock has a market capitalization of $70.32 billion, a P/E ratio of 16.35, a P/E/G ratio of 0.95 and a beta of 1.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. Research analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.24%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Insiders sold 90,545 shares of company stock valued at $4,458,430 over the last 90 days. Company insiders own 0.26% of the company’s stock.

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.