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

Massachusetts Wealth Management boosted its holdings in Schlumberger Limited (NYSE:SLB) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,742 shares of the oil and gas company’s stock after acquiring 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after buying an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after acquiring an additional 1,916,851 shares in the last quarter. Scharf Investments LLC acquired a new stake in shares of Schlumberger during the fourth quarter valued at $52,607,000. Weiss Asset Management LP purchased a new stake in Schlumberger during the 3rd quarter worth about $37,322,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in Schlumberger in the 4th quarter valued at about $25,481,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In related news, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock worth $11,442,229 in the last 90 days. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Bank of America cut their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Evercore ISI restated an “in-line” rating and set a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. TD Cowen upped their target price on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus reduced their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Six research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Performance

Schlumberger stock opened at $41.23 on Wednesday. The firm has a market capitalization of $57.76 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The stock’s 50 day moving average price is $40.38 and its 200 day moving average price is $42.37. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $9.24 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts expect that Schlumberger Limited will post 3.38 EPS 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 issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.76%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 35.37%.

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.