Canandaigua National Trust Co of Florida Grows Stock Holdings in Schlumberger Limited (NYSE:SLB)

Canandaigua National Trust Co of Florida raised its position in Schlumberger Limited (NYSE:SLB) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,950 shares of the oil and gas company’s stock after acquiring an additional 1,584 shares during the quarter. Canandaigua National Trust Co of Florida’s holdings in Schlumberger were worth $688,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its holdings in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Schlumberger in the third quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger during the third quarter valued at approximately $37,000. DiNuzzo Private Wealth Inc. lifted its holdings in Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after buying an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Schlumberger in the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SLB. Bank of America decreased their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Piper Sandler initiated coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. Wells Fargo & Company dropped their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Citigroup reduced their price target on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Jefferies Financial Group cut their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $58.25.

Schlumberger Stock Up 0.3 %

Shares of SLB stock traded up $0.13 on Monday, reaching $38.72. 8,258,482 shares of the company’s stock traded hands, compared to its average volume of 9,498,363. The business’s 50 day moving average price is $41.12 and its two-hundred day moving average price is $43.32. The company has a market capitalization of $54.68 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. On average, equities analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.84%. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

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.