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

Massachusetts Wealth Management lowered its stake in Schlumberger Limited (NYSE:SLB) by 13.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,442 shares of the oil and gas company’s stock after selling 7,775 shares during the quarter. Massachusetts Wealth Management’s holdings in Schlumberger were worth $2,074,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Schlumberger by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock valued at $7,352,771,000 after acquiring an additional 1,868,688 shares during the last quarter. Capital World Investors lifted its holdings in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after buying an additional 10,606,191 shares during the period. Legal & General Group Plc raised its holdings in Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares during the period. Finally, Boston Partners raised its holdings in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after buying an additional 3,069,395 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on SLB. JPMorgan Chase & Co. cut their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. TD Cowen reduced their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday. Citigroup reduced their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday. Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Susquehanna cut their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of Schlumberger stock traded up $0.66 during trading on Friday, reaching $41.91. The company’s stock had a trading volume of 4,082,409 shares, compared to its average volume of 11,083,597. The stock has a 50-day moving average price of $43.00 and a two-hundred day moving average price of $45.75. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a one year low of $38.66 and a one year high of $57.75. The stock has a market capitalization of $59.90 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 earnings per share. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.41 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.62%. Schlumberger’s payout ratio is 36.54%.

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.