Massachusetts Financial Services Co. MA Reduces Stock Holdings in Schlumberger Limited (NYSE:SLB)

Massachusetts Financial Services Co. MA cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 99.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,407 shares of the oil and gas company’s stock after selling 1,000,704 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Schlumberger were worth $207,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. TD Cowen boosted their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. JPMorgan Chase & Co. boosted their price objective on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. BMO Capital Markets reduced their price objective on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Finally, Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.68.

Schlumberger Trading Up 12.6 %

Shares of SLB stock opened at $35.99 on Thursday. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $54.63. 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 stock has a fifty day moving average of $40.29 and a two-hundred day moving average of $41.16. The firm has a market capitalization of $48.94 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the previous year, the business earned $0.86 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th were paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 36.66%.

Insider Transactions at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares of the company’s stock, valued at $1,311,990.68. The trade was a 44.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares in the company, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,905 shares of company stock valued at $13,609,283. Corporate insiders own 0.26% of the company’s stock.

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.