Schlumberger Limited (NYSE:SLB) Shares Sold by Citizens & Northern Corp

Citizens & Northern Corp cut its position in Schlumberger Limited (NYSE:SLB) by 7.7% in the second quarter, Holdings Channel reports. The firm owned 32,579 shares of the oil and gas company’s stock after selling 2,717 shares during the period. Citizens & Northern Corp’s holdings in Schlumberger were worth $1,537,000 as of its most recent filing with the Securities & Exchange Commission.

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

Schlumberger Stock Down 0.4 %

SLB stock opened at $43.99 on Friday. 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 company’s 50 day simple moving average is $46.11 and its 200-day simple moving average is $48.18. The firm has a market capitalization of $62.46 billion, a PE ratio of 14.61, a P/E/G ratio of 0.94 and a beta of 1.55. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. Equities analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.50%. Schlumberger’s payout ratio is currently 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. In the last three months, insiders sold 185,696 shares of company stock worth $9,264,905. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. UBS Group cut their price target on shares of Schlumberger from $67.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Susquehanna lowered their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Barclays decreased their price target on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

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.