Mathes Company Inc. Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

Mathes Company Inc. cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,900 shares of the oil and gas company’s stock after selling 1,000 shares during the period. Mathes Company Inc.’s holdings in Schlumberger were worth $610,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new stake in Schlumberger during the third quarter valued at $29,000. YANKCOM Partnership bought a new stake in shares of Schlumberger during the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at about $32,000. Ashton Thomas Securities LLC bought a new position in shares of Schlumberger in the 3rd quarter worth approximately $37,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Schlumberger in the fourth quarter worth approximately $34,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Down 0.8 %

Shares of SLB opened at $41.75 on Monday. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $40.08 and its 200-day simple moving average is $42.01. The company has a market cap of $58.48 billion, a P/E ratio of 13.42, a P/E/G ratio of 9.49 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.73%. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SLB. Piper Sandler started coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. Citigroup raised their target price on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company cut their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Transactions at Schlumberger

In related news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares in the company, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,782 shares of company stock worth $11,442,229. 0.26% of the stock is currently owned by insiders.

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.