Citizens Financial Group Inc. RI Trims Stock Position in Schlumberger Limited (NYSE:SLB)

Citizens Financial Group Inc. RI decreased its holdings in Schlumberger Limited (NYSE:SLB) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 196,126 shares of the oil and gas company’s stock after selling 1,245 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Schlumberger were worth $8,242,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SLB. ORG Partners LLC boosted its stake in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in 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 purchasing an additional 392 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Schlumberger during the third quarter valued at about $29,000. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger in the second quarter worth about $30,000. Finally, Riverview Trust Co lifted its position in shares of Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of several analyst reports. Dbs Bank initiated coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target on the stock. Evercore ISI dropped their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Citigroup lowered their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. BMO Capital Markets cut their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Two equities research 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Performance

Schlumberger stock opened at $43.53 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The firm has a market capitalization of $61.47 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The company’s 50-day moving average is $42.61 and its 200 day moving average is $44.60.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts forecast that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

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.