Canandaigua National Bank & Trust Co. Lowers Stake in Schlumberger Limited (NYSE:SLB)

Canandaigua National Bank & Trust Co. lessened its holdings in Schlumberger Limited (NYSE:SLB) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Schlumberger by 26.3% during the 2nd quarter. Victory Capital Management Inc. now owns 752,453 shares of the oil and gas company’s stock valued at $35,501,000 after buying an additional 156,788 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in Schlumberger by 1.1% during the second quarter. New York Life Investment Management LLC now owns 218,121 shares of the oil and gas company’s stock valued at $10,291,000 after purchasing an additional 2,380 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Schlumberger by 6.7% in the second quarter. Private Advisor Group LLC now owns 141,195 shares of the oil and gas company’s stock valued at $6,662,000 after purchasing an additional 8,868 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Schlumberger during the 2nd quarter worth about $2,985,000. Finally, Acadian Asset Management LLC lifted its stake in Schlumberger by 1,751.0% in the 2nd quarter. Acadian Asset Management LLC now owns 159,893 shares of the oil and gas company’s stock valued at $7,539,000 after buying an additional 151,255 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the subject of a number of research analyst reports. TD Cowen reduced their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Susquehanna lowered their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Dbs Bank started coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $58.25.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’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 transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 0.3 %

SLB traded up $0.13 during trading hours on Monday, hitting $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 current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The firm has a market cap 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 firm has a 50 day moving average of $41.12 and a 200 day moving average of $43.32.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period last year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts predict that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is presently 35.37%.

Schlumberger Company 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.