Schlumberger Limited $SLB Stock Position Raised by Canandaigua National Bank & Trust Co.

Key Points

• Canandaigua National Bank & Trust Co. increased its stake in Schlumberger Limited by 22.3%, owning 60,701 shares worth $2,052,000, according to a recent 13F filing.
• Multiple analysts have rated Schlumberger stock as a "buy," with a consensus price target of $52.86, though prices have seen adjustments, with UBS lowering its target to $44.00.
• The company recently announced a quarterly dividend of $0.285 per share, with an annualized yield of 3.2% and a payout ratio of 39.04%.

Canandaigua National Bank & Trust Co. raised its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 22.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,701 shares of the oil and gas company's stock after buying an additional 11,081 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in Schlumberger were worth $2,052,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. increased its stake in Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after buying an additional 477 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Schlumberger in the 1st quarter valued at approximately $33,000. Alpine Bank Wealth Management acquired a new position in Schlumberger in the 1st quarter valued at approximately $34,000. Park Square Financial Group LLC acquired a new position in Schlumberger in the 1st quarter valued at approximately $38,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Schlumberger in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of several analyst reports. UBS Group dropped their price target on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Melius Research initiated coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target on the stock. Stifel Nicolaus dropped their price target on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Jefferies Financial Group dropped their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Finally, Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Schlumberger has a consensus rating of "Moderate Buy" and a consensus price target of $52.86.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.22% of the company's stock.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $35.58 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15. The firm has a fifty day moving average price of $34.82 and a two-hundred day moving average price of $35.72. The company has a market cap of $53.14 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 9.87 and a beta of 1.05.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business's revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. Analysts expect that Schlumberger Limited will post 3.38 EPS 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 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.