Canandaigua National Trust Co of Florida Buys 1,584 Shares of Schlumberger Limited (NYSE:SLB)

Canandaigua National Trust Co of Florida lifted its stake in Schlumberger Limited (NYSE:SLB) by 9.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,950 shares of the oil and gas company’s stock after acquiring an additional 1,584 shares during the period. Canandaigua National Trust Co of Florida’s holdings in Schlumberger were worth $688,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on SLB. JPMorgan Chase & Co. lowered their price objective on shares of Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday. Bank of America reduced their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Barclays lowered their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Five 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.25.

Schlumberger Trading Up 0.3 %

Shares of SLB stock traded up $0.13 during trading hours on Monday, reaching $38.72. The company had a trading volume of 8,258,482 shares, compared to its average volume of 9,498,363. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The company has a 50 day moving average of $41.12 and a 200 day moving average of $43.32. The firm has a market cap of $54.68 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.42 and a beta of 1.52.

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

Schlumberger Dividend Announcement

The firm 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 payout ratio is 35.37%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by insiders.

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.