Massachusetts Wealth Management Buys 750 Shares of Schlumberger Limited (NYSE:SLB)

Massachusetts Wealth Management lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,517 shares of the oil and gas company’s stock after acquiring an additional 750 shares during the period. Schlumberger accounts for about 2.2% of Massachusetts Wealth Management’s portfolio, making the stock its 9th largest position. Massachusetts Wealth Management’s holdings in Schlumberger were worth $3,153,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Schlumberger in the 4th quarter worth about $26,000. Register Financial Advisors LLC bought a new stake in shares of Schlumberger in the first quarter valued at approximately $27,000. Transcendent Capital Group LLC bought a new position in Schlumberger in the 4th quarter worth approximately $32,000. Janiczek Wealth Management LLC grew its stake in Schlumberger by 1,180.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 602 shares in the last quarter. Finally, Pinnacle Bancorp Inc. boosted its holdings in shares of Schlumberger by 64.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 292 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $47.31 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The company has a market cap of $67.62 billion, a PE ratio of 15.71, a P/E/G ratio of 0.90 and a beta of 1.55. The business has a 50 day moving average of $46.58 and a 200 day moving average of $49.53. Schlumberger Limited has a 52 week low of $42.61 and a 52 week high of $62.12.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. As a group, equities research analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.33%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio is presently 36.54%.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now directly owns 22,518 shares of the company’s stock, valued at $977,956.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the sale, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The disclosure for this sale can be found here. Insiders have sold a total of 106,158 shares of company stock valued at $5,099,893 over the last ninety days. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SLB shares. Barclays reduced their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Citigroup reduced their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $64.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Finally, Bank of America cut their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.59.

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.