Schlumberger Limited (NYSE:SLB) is Massachusetts Wealth Management’s 9th Largest Position

Massachusetts Wealth Management raised its position in shares of Schlumberger Limited (NYSE:SLB) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,517 shares of the oil and gas company’s stock after buying an additional 750 shares during the period. Schlumberger comprises about 2.2% of Massachusetts Wealth Management’s holdings, making the stock its 9th largest holding. Massachusetts Wealth Management’s holdings in Schlumberger were worth $3,153,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Schlumberger by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after acquiring an additional 1,753,108 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Schlumberger by 12.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock valued at $3,922,768,000 after buying an additional 8,617,971 shares in the last quarter. Capital World Investors raised its stake in Schlumberger by 2.2% in the fourth quarter. Capital World Investors now owns 51,617,471 shares of the oil and gas company’s stock valued at $2,686,173,000 after buying an additional 1,133,686 shares in the last quarter. Norges Bank acquired a new stake in Schlumberger in the fourth quarter valued at $1,000,292,000. Finally, Morgan Stanley raised its stake in Schlumberger by 1.9% in the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after buying an additional 292,817 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Schlumberger

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLB. Susquehanna restated a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Wells Fargo & Company cut Schlumberger from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $68.00 to $53.00 in a research report on Monday, April 29th. BMO Capital Markets cut their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Finally, HSBC reissued a “buy” rating and set a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.59.

Schlumberger Trading Up 1.3 %

Shares of SLB opened at $47.31 on Thursday. The stock has a fifty day moving average of $46.58 and a two-hundred day moving average of $49.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The company has a market capitalization of $67.62 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 0.90 and a beta of 1.55. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12.

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

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.33%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio is presently 36.54%.

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.