Massachusetts Wealth Management Has $2.07 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Massachusetts Wealth Management decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 0.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 49,417 shares of the oil and gas company’s stock after selling 325 shares during the quarter. Massachusetts Wealth Management’s holdings in Schlumberger were worth $2,066,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC bought a new stake in shares of Schlumberger during the 1st quarter valued at $447,000. Opal Wealth Advisors LLC bought a new stake in shares of Schlumberger during the 1st quarter valued at $137,000. Hennessy Advisors Inc. raised its position in shares of Schlumberger by 848.1% during the 1st quarter. Hennessy Advisors Inc. now owns 140,410 shares of the oil and gas company’s stock valued at $5,869,000 after acquiring an additional 125,600 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Schlumberger by 14.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 169,944 shares of the oil and gas company’s stock valued at $7,104,000 after acquiring an additional 21,680 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. raised its position in shares of Schlumberger by 12.8% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 445,344 shares of the oil and gas company’s stock valued at $18,615,000 after acquiring an additional 50,487 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In related news, insider Aparna Raman sold 25,133 shares of the firm’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director now owns 23,525 shares of the company’s stock, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SLB has been the subject of several recent research reports. Jefferies Financial Group dropped their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Stifel Nicolaus lowered their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Barclays lowered their price objective on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Morgan Stanley lowered their price objective on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Finally, Susquehanna lowered their price objective on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a research report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.38.

Schlumberger Price Performance

Shares of NYSE SLB opened at $36.31 on Friday. The stock has a market capitalization of $49.38 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 10.10 and a beta of 1.01. The business has a 50-day moving average of $34.36 and a 200-day moving average of $38.35. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 EPS. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger’s payout ratio is 38.64%.

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.