M&T Bank Corp Decreases Stock Holdings in Schlumberger Limited (NYSE:SLB)

M&T Bank Corp reduced its holdings in shares of Schlumberger Limited (NYSE:SLB) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,548 shares of the oil and gas company’s stock after selling 2,956 shares during the quarter. M&T Bank Corp’s holdings in Schlumberger were worth $10,853,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Royal Bank of Canada boosted its stake in shares of Schlumberger by 79.7% in the third quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock valued at $286,835,000 after purchasing an additional 2,182,706 shares during the period. Sanders Capital LLC raised its holdings in Schlumberger by 34.9% in the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock valued at $469,693,000 after acquiring an additional 2,085,506 shares in the last quarter. Invesco Ltd. raised its holdings in Schlumberger by 30.5% in the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock valued at $488,020,000 after acquiring an additional 1,954,620 shares in the last quarter. Capital Wealth Planning LLC raised its holdings in Schlumberger by 48.2% in the third quarter. Capital Wealth Planning LLC now owns 5,555,662 shares of the oil and gas company’s stock valued at $323,895,000 after acquiring an additional 1,807,061 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Schlumberger by 1.1% in the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after acquiring an additional 1,412,821 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the sale, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of SLB opened at $47.66 on Monday. Schlumberger Limited has a twelve month low of $42.73 and a twelve month high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The firm’s 50 day moving average price is $51.63 and its 200 day moving average price is $51.67. The firm has a market cap of $68.12 billion, a PE ratio of 15.83, a PEG ratio of 0.92 and a beta of 1.64.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter last year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, research analysts expect that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.31%. The ex-dividend date is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BMO Capital Markets cut their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Stifel Nicolaus reissued a “buy” rating and set a $64.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Susquehanna reissued a “positive” rating and set a $77.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $68.00 to $53.00 in a report on Monday, April 29th. Finally, Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.72.

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.