First Citizens Bank & Trust Co. Sells 1,147 Shares of Schlumberger Limited (NYSE:SLB)

First Citizens Bank & Trust Co. lessened its position in Schlumberger Limited (NYSE:SLB) by 10.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,980 shares of the oil and gas company’s stock after selling 1,147 shares during the period. First Citizens Bank & Trust Co.’s holdings in Schlumberger were worth $417,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in Schlumberger during the 4th quarter worth about $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger during the 4th quarter valued at about $34,000. True Wealth Design LLC lifted its position in Schlumberger by 584.7% during the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 842 shares during the period. Bogart Wealth LLC lifted its position in Schlumberger by 468.9% during the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 844 shares during the period. Finally, Mpwm Advisory Solutions LLC acquired a new position in Schlumberger during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Up 4.1%

NYSE:SLB opened at $35.52 on Wednesday. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average price of $34.20 and a two-hundred day moving average price of $38.51. The company has a market cap of $48.31 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 10.10 and a beta of 1.01.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same period last year, the company earned $0.75 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. As a group, analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s payout ratio is presently 38.64%.

Analysts Set New Price Targets

SLB has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Susquehanna lowered their price target on Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a research note on Monday, April 28th. Morgan Stanley lowered their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Barclays lowered their price target on Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Finally, Stifel Nicolaus lowered their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.38.

Insider Activity

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares of the company’s stock, valued at $1,311,990.68. This trade represents a 44.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director now directly owns 23,525 shares of the company’s stock, valued at $789,969.50. This represents a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

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.