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

Citizens Financial Group Inc. RI reduced its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 17.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 162,561 shares of the oil and gas company's stock after selling 33,565 shares during the period. Citizens Financial Group Inc. RI's holdings in Schlumberger were worth $6,233,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger in the 3rd quarter valued at $29,000. YANKCOM Partnership acquired a new position in Schlumberger in the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new stake in Schlumberger during the fourth quarter worth about $32,000. Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger during the third quarter worth about $37,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the sale, the executive vice president now owns 210,502 shares in the company, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ugo Prechner sold 7,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock worth $12,546,660 in the last 90 days. Company insiders own 0.26% of the company's stock.

Schlumberger Stock Performance

NYSE SLB opened at $40.09 on Wednesday. The company has a fifty day moving average of $40.83 and a two-hundred day moving average of $41.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The company has a market capitalization of $54.51 billion, a PE ratio of 12.89, a P/E/G ratio of 10.10 and a beta of 1.47.

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Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter last year, the business posted $0.86 EPS. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. This is an increase from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.84%. Schlumberger's dividend payout ratio is 36.66%.

Analyst Ratings Changes

SLB has been the topic of several recent research reports. Evercore ISI reaffirmed an "in-line" rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Royal Bank of Canada reiterated an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Atb Cap Markets lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Wells Fargo & Company cut their price target on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.81.

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.

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