MassMutual Private Wealth & Trust FSB Cuts Stock Position in Schlumberger Limited (NYSE:SLB)

MassMutual Private Wealth & Trust FSB decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 39.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,191 shares of the oil and gas company’s stock after selling 45,424 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Schlumberger were worth $2,691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SLB. ORG Partners LLC boosted its position in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Schlumberger in the third quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger in the third quarter worth about $37,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Schlumberger during the third quarter valued at about $47,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Up 6.1 %

Schlumberger stock opened at $43.58 on Tuesday. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The stock has a market capitalization of $61.54 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The business has a 50 day simple moving average of $40.86 and a 200-day simple moving average of $42.84.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.62%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is presently 35.37%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Citigroup dropped their target price on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Piper Sandler started coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Schlumberger from $55.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.03.

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.