Citizens Financial Group Inc. RI Sells 1,245 Shares of Schlumberger Limited (NYSE:SLB)

Citizens Financial Group Inc. RI lessened its holdings in Schlumberger Limited (NYSE:SLB) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. ORG Partners LLC raised 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 buying an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC raised 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 last quarter. Prospera Private Wealth LLC bought a new position in shares of Schlumberger during the third quarter valued at about $29,000. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger in the second quarter worth about $30,000. Finally, Riverview Trust Co increased its holdings in 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 purchasing an additional 308 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Dbs Bank initiated coverage on Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective on the stock. Susquehanna decreased their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Bank of America cut their target price 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. BMO Capital Markets decreased their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Trading Up 1.0 %

Shares of NYSE SLB opened at $43.53 on Thursday. The firm’s 50 day moving average price is $42.61 and its 200-day moving average price is $44.60. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The company has a market cap of $61.47 billion, a PE ratio of 14.00, a P/E/G ratio of 1.52 and a beta of 1.52.

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

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given 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 presently 35.37%.

Insider Buying and Selling at Schlumberger

In related 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 value of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company 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.