Citizens Financial Group Inc. RI Sells 129,884 Shares of SLB Limited $SLB

Citizens Financial Group Inc. RI lowered its holdings in shares of SLB Limited (NYSE:SLB) by 79.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,967 shares of the oil and gas company’s stock after selling 129,884 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in SLB were worth $1,114,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of SLB by 478.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after purchasing an additional 39,474,501 shares during the last quarter. Boston Partners grew its stake in SLB by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after acquiring an additional 4,300,222 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in SLB by 211.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock worth $250,507,000 after acquiring an additional 4,066,500 shares in the last quarter. Nuveen LLC purchased a new position in shares of SLB during the first quarter worth approximately $169,232,000. Finally, Banque Transatlantique SA raised its stake in shares of SLB by 21,737.8% during the first quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock valued at $71,821,000 after acquiring an additional 1,850,760 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 38,447 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $36.75, for a total transaction of $1,412,927.25. Following the transaction, the chief financial officer directly owned 175,690 shares of the company’s stock, valued at approximately $6,456,607.50. This represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 138,174 shares of company stock valued at $5,107,677. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SLB has been the topic of several research reports. Zacks Research upgraded SLB from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Rothschild Redb upgraded SLB to a “strong-buy” rating in a research note on Monday, November 3rd. UBS Group restated a “buy” rating and issued a $44.00 price objective on shares of SLB in a report on Tuesday, October 21st. Barclays increased their target price on shares of SLB from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of SLB in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.28.

SLB Price Performance

SLB opened at $35.83 on Tuesday. The business’s 50-day moving average is $35.03 and its two-hundred day moving average is $34.79. SLB Limited has a 1 year low of $31.11 and a 1 year high of $44.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01. The firm has a market capitalization of $53.53 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 10.19 and a beta of 0.97.

SLB (NYSE:SLB) last released its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. SLB had a net margin of 10.34% and a return on equity of 18.97%. The business had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. During the same period in the prior year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. Research analysts anticipate that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Wednesday, December 3rd will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is 44.02%.

SLB 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.