HM Payson & Co. Sells 905 Shares of Schlumberger Limited (NYSE:SLB)

HM Payson & Co. lessened its holdings in Schlumberger Limited (NYSE:SLB) by 6.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,604 shares of the oil and gas company’s stock after selling 905 shares during the period. HM Payson & Co.’s holdings in Schlumberger were worth $483,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. CX Institutional lifted its stake in shares of Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after purchasing an additional 244 shares during the period. GM Advisory Group LLC raised its stake in Schlumberger by 3.8% during the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after acquiring an additional 247 shares during the period. TCW Group Inc. raised its stake in Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock worth $759,000 after acquiring an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in Schlumberger by 0.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after acquiring an additional 262 shares during the period. Finally, Cromwell Holdings LLC raised its stake in Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after acquiring an additional 283 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the sale, the insider now owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock worth $12,546,660 over the last three months. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Jefferies Financial Group decreased their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Trading Up 4.0 %

SLB stock opened at $41.36 on Friday. The firm has a fifty day moving average price of $40.73 and a 200 day moving average price of $41.64. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. 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 firm has a market cap of $56.25 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.76%. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

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.