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

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC boosted its holdings in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger in the first quarter valued at about $27,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger in the second quarter valued at about $30,000. Finally, Manchester Capital Management LLC lifted its holdings in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several recent research reports. Susquehanna reduced their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday. JPMorgan Chase & Co. decreased their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Morgan Stanley dropped their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Monday. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Schlumberger Trading Up 1.6 %

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

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

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.62%. Schlumberger’s payout ratio is 36.54%.

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.