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

First Citizens Bank & Trust Co. lowered its stake in Schlumberger Limited (NYSE:SLB) by 10.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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.

Other hedge funds also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in shares of Schlumberger in the fourth quarter worth $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger in the fourth quarter worth $34,000. True Wealth Design LLC increased its position in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 842 shares during the period. Bogart Wealth LLC increased its position in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares during the period. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Schlumberger in the fourth quarter worth $40,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Schlumberger stock opened at $35.52 on Wednesday. The stock’s 50 day moving average is $34.20 and its 200 day moving average is $38.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm has a market cap of $48.31 billion, a P/E ratio of 11.42, a P/E/G ratio of 10.10 and a beta of 1.01. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94.

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

Schlumberger Dividend Announcement

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays decreased their price target on Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Susquehanna decreased their target price on Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company decreased their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, June 5th. Stifel Nicolaus decreased their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Finally, Jefferies Financial Group decreased their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.38.

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.