Citizens Financial Group Inc. RI Purchases 13,662 Shares of Schlumberger Limited (NYSE:SLB)

Citizens Financial Group Inc. RI lifted its position in shares of Schlumberger Limited (NYSE:SLB) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 197,371 shares of the oil and gas company’s stock after purchasing an additional 13,662 shares during the period. Citizens Financial Group Inc. RI’s holdings in Schlumberger were worth $9,312,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC boosted its position in shares of Schlumberger by 53.5% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after acquiring an additional 683 shares during the last quarter. Crescent Grove Advisors LLC purchased a new position in Schlumberger in the 2nd quarter worth approximately $257,000. National Bank of Canada FI grew its stake in Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after buying an additional 51,637 shares in the last quarter. Mission Wealth Management LP bought a new position in shares of Schlumberger in the 1st quarter worth $245,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Schlumberger by 9.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after acquiring an additional 64,974 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by corporate insiders.

Schlumberger Trading Up 0.4 %

NYSE SLB opened at $39.96 on Monday. The stock has a market cap of $56.74 billion, a P/E ratio of 13.28, a P/E/G ratio of 0.85 and a beta of 1.51. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $61.78. The stock’s fifty day moving average price is $44.90 and its 200-day moving average price is $47.63.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities analysts forecast that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.75%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of research reports. Citigroup dropped their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Bank of America cut their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Evercore ISI lifted their price target on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Piper Sandler cut their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, Susquehanna decreased their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.00.

About Schlumberger

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.