MassMutual Private Wealth & Trust FSB Decreases Stock Holdings in Schlumberger Limited (NYSE:SLB)

MassMutual Private Wealth & Trust FSB cut its stake in Schlumberger Limited (NYSE:SLB) by 39.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,191 shares of the oil and gas company’s stock after selling 45,424 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Schlumberger were worth $2,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in SLB. Grove Bank & Trust grew its holdings in Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 224 shares in the last quarter. M&R Capital Management Inc. boosted its position in shares of Schlumberger by 1.7% during the 3rd quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock valued at $622,000 after acquiring an additional 241 shares during the last quarter. GM Advisory Group LLC grew its holdings in shares of Schlumberger by 3.8% in the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after purchasing an additional 247 shares during the period. Cordatus Wealth Management LLC increased its position in Schlumberger by 2.1% during the third quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock worth $561,000 after purchasing an additional 281 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its stake in Schlumberger by 0.7% during the third quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock worth $1,708,000 after purchasing an additional 284 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Up 6.1 %

Shares of Schlumberger stock opened at $43.58 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a market capitalization of $61.54 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.35 and a beta of 1.52. The company has a 50 day moving average of $40.86 and a 200 day moving average of $42.84.

Schlumberger (NYSE:SLB) last issued its earnings results 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 net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. As a group, research analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SLB shares. Barclays cut their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. 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. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Piper Sandler started 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. Finally, Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $56.03.

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.