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

Citizens & Northern Corp lowered its position in Schlumberger Limited (NYSE:SLB) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,894 shares of the oil and gas company’s stock after selling 1,067 shares during the quarter. Citizens & Northern Corp’s holdings in Schlumberger were worth $1,816,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SLB. Vanguard Group Inc. increased its stake in shares of Schlumberger by 1.1% during the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after acquiring an additional 1,412,821 shares during the period. FMR LLC boosted its stake in Schlumberger by 1.1% in the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock worth $1,584,099,000 after purchasing an additional 282,709 shares during the period. Norges Bank acquired a new position in Schlumberger in the 4th quarter worth approximately $1,000,292,000. Morgan Stanley boosted its stake in Schlumberger by 1.9% in the 3rd quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock worth $920,561,000 after purchasing an additional 292,817 shares during the period. Finally, Invesco Ltd. boosted its stake in Schlumberger by 30.5% in the 3rd quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock worth $488,020,000 after purchasing an additional 1,954,620 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Susquehanna reissued a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Morgan Stanley restated an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Bank of America dropped their target price on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Finally, BMO Capital Markets decreased their target price on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $68.72.

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the sale, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total value of $3,044,964.70. Following the completion of the transaction, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. Insiders sold a total of 157,428 shares of company stock valued at $7,613,612 over the last ninety days. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of SLB stock traded down $0.32 during trading hours on Thursday, reaching $46.16. 6,323,696 shares of the company were exchanged, compared to its average volume of 10,674,450. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The stock’s fifty day moving average is $51.19 and its two-hundred day moving average is $50.90. The company has a market cap of $65.98 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 0.93 and a beta of 1.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. Schlumberger’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 earnings per share. Sell-side analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.38%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is 36.54%.

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.