Mitsubishi UFJ Trust & Banking Corp Sells 38,194 Shares of Schlumberger Limited (NYSE:SLB)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 627,375 shares of the oil and gas company’s stock after selling 38,194 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Schlumberger were worth $24,054,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SLB. YANKCOM Partnership acquired a new position in Schlumberger in the 4th quarter valued at $31,000. Stonebridge Financial Group LLC bought a new stake in Schlumberger during the fourth quarter valued at about $32,000. Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger in the fourth quarter valued at about $34,000. Hager Investment Management Services LLC bought a new position in shares of Schlumberger in the fourth quarter worth about $38,000. Finally, Bogart Wealth LLC lifted its position in shares of Schlumberger by 468.9% during the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Piper Sandler started coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. Jefferies Financial Group decreased their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Finally, Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.69.

Insider Buying and Selling at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the sale, the executive vice president now owns 184,626 shares of the company’s stock, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the transaction, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Down 0.7 %

Shares of NYSE SLB opened at $42.14 on Friday. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The business has a fifty day moving average of $41.32 and a two-hundred day moving average of $41.43. The stock has a market cap of $57.31 billion, a PE ratio of 13.55, a PEG ratio of 10.10 and a beta of 1.47.

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

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.71%. Schlumberger’s dividend payout ratio is 36.66%.

About Schlumberger

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.