Schlumberger Limited (NYSE:SLB) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,844 shares of the oil and gas company's stock after selling 15,926 shares during the period. M&T Bank Corp's holdings in Schlumberger were worth $6,857,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger during the third quarter valued at about $29,000. YANKCOM Partnership acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $32,000. Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger during the third quarter valued at about $37,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $34,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now owns 49,595 shares of the company's stock, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. The trade was a 40.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 290,772 shares of company stock valued at $12,546,660. Insiders own 0.26% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SLB. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They set a "neutral" rating and a $47.00 target price for the company. Evercore ISI reiterated an "in-line" rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Atb Cap Markets downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Barclays decreased their price target on Schlumberger from $61.00 to $53.00 and set an "overweight" rating for the company in a research note on Wednesday, December 18th. Finally, BMO Capital Markets decreased their price target on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $55.81.

Schlumberger Stock Performance

Shares of SLB traded up $1.60 during mid-day trading on Friday, reaching $41.36. 19,613,595 shares of the company's stock traded hands, compared to its average volume of 14,443,572. The business's 50-day moving average price is $40.73 and its 200-day moving average price is $41.63. The stock has a market capitalization of $56.25 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 earnings per share. Equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio is 36.66%.

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.