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

Citizens Financial Group Inc. RI boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 7.4% during the second quarter, Holdings Channel.com reports. The fund owned 197,371 shares of the oil and gas company’s stock after acquiring an additional 13,662 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Schlumberger were worth $9,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in SLB. Register Financial Advisors LLC bought a new stake in Schlumberger in the 1st quarter valued at $27,000. Bruce G. Allen Investments LLC boosted its stake 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 buying an additional 392 shares during the last quarter. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger in the 2nd quarter worth about $30,000. Manchester Capital Management LLC grew its holdings in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the last quarter. Finally, Riverview Trust Co raised its position in Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of analyst reports. Citigroup cut their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. UBS Group dropped their target price on shares of Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Susquehanna reduced their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, July 11th. Finally, StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Insider Buying and Selling at Schlumberger

In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by insiders.

Schlumberger Price Performance

NYSE SLB opened at $39.96 on Monday. The company has a market cap of $56.74 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 0.85 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The stock’s fifty day moving average price is $44.90 and its 200 day moving average price is $47.63. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $61.78.

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

Schlumberger Dividend Announcement

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

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.