Schlumberger Limited (NYSE:SLB) Shares Bought by Massachusetts Wealth Management

Massachusetts Wealth Management increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,742 shares of the oil and gas company’s stock after buying an additional 300 shares during the period. Massachusetts Wealth Management’s holdings in Schlumberger were worth $1,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in SLB. Czech National Bank boosted its position in Schlumberger by 6.2% during the third quarter. Czech National Bank now owns 289,269 shares of the oil and gas company’s stock worth $12,135,000 after acquiring an additional 16,919 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Schlumberger by 7.0% in the third quarter. GAMMA Investing LLC now owns 15,870 shares of the oil and gas company’s stock valued at $666,000 after purchasing an additional 1,042 shares during the last quarter. Diversified Trust Co boosted its stake in Schlumberger by 12.4% during the third quarter. Diversified Trust Co now owns 18,013 shares of the oil and gas company’s stock worth $756,000 after buying an additional 1,994 shares during the last quarter. Miracle Mile Advisors LLC grew its holdings in Schlumberger by 26.1% in the 3rd quarter. Miracle Mile Advisors LLC now owns 113,976 shares of the oil and gas company’s stock valued at $4,781,000 after buying an additional 23,567 shares in the last quarter. Finally, Fulton Bank N.A. grew its holdings in Schlumberger by 21.6% in the 3rd quarter. Fulton Bank N.A. now owns 17,489 shares of the oil and gas company’s stock valued at $734,000 after buying an additional 3,109 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In other news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 263,782 shares of company stock valued at $11,442,229. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

SLB stock opened at $41.23 on Wednesday. The business has a 50 day simple moving average of $40.38 and a 200-day simple moving average of $42.37. The company has a market capitalization of $57.76 billion, a P/E ratio of 13.26, a PEG ratio of 9.55 and a beta of 1.51. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the prior year, the company earned $0.86 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. TD Cowen boosted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Piper Sandler assumed coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Bank of America cut their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

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.