Canandaigua National Trust Co of Florida Buys 8,110 Shares of Schlumberger Limited $SLB

Key Points

• Canandaigua National Trust Co of Florida increased its stake in Schlumberger Limited (NYSE:SLB) by 44.2% during the 2nd quarter, acquiring an additional 8,110 shares, bringing their total holdings to 26,451 shares worth approximately $894,000.
• Insider Dianne B. Ralston sold 39,727 shares at an average price of $36.08, resulting in a 16.42% decrease in their position, leaving her with 202,201 shares valued around $7.3 million.
• Schlumberger's stock is currently down 1.2% and has reported $0.74 earnings per share for the most recent quarter, surpassing analysts' expectations while showing a 6.5% year-over-year revenue decline.

Canandaigua National Trust Co of Florida boosted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 44.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,451 shares of the oil and gas company's stock after acquiring an additional 8,110 shares during the quarter. Canandaigua National Trust Co of Florida's holdings in Schlumberger were worth $894,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Canandaigua National Bank & Trust Co. increased its stake in Schlumberger by 22.3% during the second quarter. Canandaigua National Bank & Trust Co. now owns 60,701 shares of the oil and gas company's stock worth $2,052,000 after acquiring an additional 11,081 shares during the last quarter. Bard Financial Services Inc. increased its stake in Schlumberger by 15.1% during the second quarter. Bard Financial Services Inc. now owns 9,150 shares of the oil and gas company's stock worth $309,000 after acquiring an additional 1,200 shares during the last quarter. Investors Research Corp increased its stake in Schlumberger by 226.6% during the second quarter. Investors Research Corp now owns 29,763 shares of the oil and gas company's stock worth $1,006,000 after acquiring an additional 20,650 shares during the last quarter. Wealth Alliance Advisory Group LLC bought a new stake in Schlumberger during the second quarter worth approximately $254,000. Finally, Capital Asset Advisory Services LLC bought a new stake in Schlumberger during the second quarter worth approximately $213,000. 81.99% of the stock is owned by institutional investors.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company's stock.

Schlumberger Stock Down 1.2%

Shares of NYSE SLB opened at $35.58 on Monday. The stock has a 50 day moving average price of $34.82 and a 200 day moving average price of $35.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market capitalization of $53.14 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 9.87 and a beta of 1.05. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.Schlumberger's revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. Sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio is currently 39.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Piper Sandler cut their target price on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a research note on Friday, July 18th. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. UBS Group cut their target price on Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Melius assumed coverage on Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price on the stock. Finally, Stifel Nicolaus cut their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $52.86.

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.

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