Schlumberger Limited (NYSE:SLB) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 11.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,669 shares of the oil and gas company’s stock after selling 6,247 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Schlumberger were worth $1,866,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SLB. Kings Path Partners LLC purchased a new stake in shares of Schlumberger during the 4th quarter worth approximately $62,000. Bard Financial Services Inc. lifted its position in Schlumberger by 38.1% in the fourth quarter. Bard Financial Services Inc. now owns 7,525 shares of the oil and gas company’s stock valued at $289,000 after acquiring an additional 2,075 shares during the last quarter. CWA Asset Management Group LLC lifted its position in Schlumberger by 54.2% in the fourth quarter. CWA Asset Management Group LLC now owns 200,075 shares of the oil and gas company’s stock valued at $7,671,000 after acquiring an additional 70,296 shares during the last quarter. Nordea Investment Management AB boosted its stake in Schlumberger by 7.2% in the fourth quarter. Nordea Investment Management AB now owns 1,767,647 shares of the oil and gas company’s stock valued at $67,772,000 after acquiring an additional 118,074 shares in the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of SLB traded up $0.13 during mid-day trading on Monday, reaching $38.72. 8,258,482 shares of the company’s stock were exchanged, compared to its average volume of 9,498,363. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a market cap of $54.68 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.42 and a beta of 1.52. The company has a 50-day simple moving average of $41.12 and a two-hundred day simple moving average of $43.32.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that Schlumberger Limited will post 3.39 EPS for the current fiscal 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 annualized dividend and a yield of 2.84%. Schlumberger’s payout ratio is currently 35.37%.

Analyst Ratings Changes

A number of research analysts recently issued reports on SLB shares. Wells Fargo & Company dropped their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Bank of America cut their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Stifel Nicolaus lowered their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Finally, Morgan Stanley reduced their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Five investment 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 company’s stock. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $58.25.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.