Massachusetts Financial Services Co. MA Has $42.21 Million Holdings in Schlumberger Limited (NYSE:SLB)

Massachusetts Financial Services Co. MA trimmed its position in shares of Schlumberger Limited (NYSE:SLB) by 21.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,006,111 shares of the oil and gas company’s stock after selling 280,278 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.07% of Schlumberger worth $42,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. John G Ullman & Associates Inc. lifted its holdings in Schlumberger by 26.4% in the 3rd quarter. John G Ullman & Associates Inc. now owns 328,704 shares of the oil and gas company’s stock worth $13,789,000 after purchasing an additional 68,700 shares during the last quarter. Cypress Capital Group raised its position in shares of Schlumberger by 4.5% in the third quarter. Cypress Capital Group now owns 29,541 shares of the oil and gas company’s stock valued at $1,239,000 after purchasing an additional 1,264 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Schlumberger in the third quarter worth $680,000. Primecap Management Co. CA boosted its holdings in shares of Schlumberger by 0.5% during the 3rd quarter. Primecap Management Co. CA now owns 997,300 shares of the oil and gas company’s stock worth $41,837,000 after buying an additional 5,100 shares during the period. Finally, Moran Wealth Management LLC grew its stake in Schlumberger by 31.2% in the 3rd quarter. Moran Wealth Management LLC now owns 308,896 shares of the oil and gas company’s stock valued at $12,958,000 after buying an additional 73,432 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.4 %

Shares of SLB opened at $44.23 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $62.46 billion, a PE ratio of 14.22, a PEG ratio of 1.56 and a beta of 1.52. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. The stock has a 50 day simple moving average of $42.78 and a 200-day simple moving average of $44.53.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.49%. Schlumberger’s dividend payout ratio is 35.37%.

Analysts Set New Price Targets

A number of research firms have weighed in on SLB. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Evercore ISI dropped their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Company 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.