Metropolitan Life Insurance Co NY Lowers Holdings in Schlumberger Limited (NYSE:SLB)

Metropolitan Life Insurance Co NY lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,114 shares of the oil and gas company’s stock after selling 1,407 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Schlumberger were worth $3,051,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in Schlumberger in the 1st quarter valued at approximately $25,000. Exos TFP Holdings LLC boosted its stake in shares of Schlumberger by 269.7% in the first quarter. Exos TFP Holdings LLC now owns 536 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 391 shares in the last quarter. Impact Partnership Wealth LLC acquired a new position in Schlumberger during the second quarter worth $31,000. Column Capital Advisors LLC raised its position in Schlumberger by 50.3% in the second quarter. Column Capital Advisors LLC now owns 648 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 217 shares in the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in Schlumberger in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Insider Activity

In related news, insider Gavin Rennick sold 6,675 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $52.88, for a total value of $352,974.00. Following the sale, the insider now directly owns 39,958 shares of the company’s stock, valued at $2,112,979.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $56.32, for a total value of $352,000.00. Following the transaction, the chief financial officer now directly owns 176,015 shares in the company, valued at approximately $9,913,164.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gavin Rennick sold 6,675 shares of Schlumberger stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $52.88, for a total transaction of $352,974.00. Following the transaction, the insider now directly owns 39,958 shares in the company, valued at $2,112,979.04. The disclosure for this sale can be found here. Insiders sold a total of 115,925 shares of company stock valued at $6,794,479 in the last 90 days. 0.23% of the stock is currently owned by insiders.

Schlumberger Stock Performance

Shares of SLB opened at $52.74 on Tuesday. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.78. The company’s 50 day simple moving average is $57.46 and its 200 day simple moving average is $54.17. The company has a market capitalization of $75.07 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 0.71 and a beta of 1.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.36.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.32 billion. Schlumberger had a return on equity of 21.80% and a net margin of 12.98%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 EPS. On average, sell-side analysts predict that Schlumberger Limited will post 2.97 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Wednesday, December 6th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, December 5th. Schlumberger’s dividend payout ratio (DPR) is 34.60%.

Wall Street Analyst Weigh In

SLB has been the subject of a number of research analyst reports. UBS Group increased their price target on shares of Schlumberger from $72.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Morgan Stanley reiterated an “overweight” rating and set a $62.00 price target on shares of Schlumberger in a research report on Monday, July 24th. Susquehanna upped their price target on Schlumberger from $68.00 to $72.00 and gave the stock a “positive” rating in a report on Thursday, September 7th. StockNews.com initiated coverage on Schlumberger in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Piper Sandler boosted their target price on Schlumberger from $64.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, September 11th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $70.36.

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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.