PNC Financial Services Group Inc. Sells 1,129,272 Shares of Schlumberger Limited (NYSE:SLB)

PNC Financial Services Group Inc. trimmed its position in Schlumberger Limited (NYSE:SLB - Free Report) by 51.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,056,262 shares of the oil and gas company's stock after selling 1,129,272 shares during the period. PNC Financial Services Group Inc. owned approximately 0.08% of Schlumberger worth $40,497,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SLB. Prospera Private Wealth LLC bought a new position in Schlumberger in the 3rd quarter valued at about $29,000. YANKCOM Partnership bought a new position in Schlumberger during the fourth quarter worth about $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger during the fourth quarter worth about $32,000. Golden State Wealth Management LLC acquired a new stake in Schlumberger in the 4th quarter worth about $34,000. Finally, Ashton Thomas Securities LLC bought a new stake in Schlumberger in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Buying and Selling at Schlumberger

In other news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the sale, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 in the last quarter. 0.26% of the stock is currently owned by company insiders.

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Schlumberger Trading Down 1.9 %

NYSE:SLB traded down $0.77 on Tuesday, reaching $40.37. 7,896,532 shares of the stock traded hands, compared to its average volume of 14,381,981. The company's 50 day moving average is $40.80 and its 200-day moving average is $41.61. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The firm has a market capitalization of $54.90 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

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

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.82%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio is currently 36.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Griffin Securities downgraded shares of Schlumberger from a "buy" rating to a "neutral" rating in a research report on Friday, December 20th. Sanford C. Bernstein raised shares of Schlumberger to a "strong-buy" rating in a report on Tuesday, November 12th. Stifel Nicolaus cut their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Monday, December 23rd. Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price objective on the stock. Finally, Citigroup upped their target price on Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Schlumberger has a consensus rating of "Moderate Buy" and a consensus price target of $55.81.

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.