Synergy Asset Management LLC Invests $1.04 Million in Schlumberger Limited (NYSE:SLB)

Synergy Asset Management LLC bought a new position in shares of Schlumberger Limited (NYSE:SLBFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,974 shares of the oil and gas company’s stock, valued at approximately $1,039,000.

A number of other hedge funds have also recently bought and sold shares of the company. Wagner Wealth Management LLC boosted its position in Schlumberger by 2.9% during the fourth quarter. Wagner Wealth Management LLC now owns 9,292 shares of the oil and gas company’s stock worth $484,000 after acquiring an additional 264 shares during the last quarter. Fulcrum Equity Management acquired a new stake in Schlumberger during the fourth quarter worth approximately $296,000. Patron Partners LLC boosted its position in Schlumberger by 108.3% during the fourth quarter. Patron Partners LLC now owns 7,308 shares of the oil and gas company’s stock worth $380,000 after acquiring an additional 3,799 shares during the last quarter. Gradient Investments LLC boosted its position in Schlumberger by 3.5% during the fourth quarter. Gradient Investments LLC now owns 11,739 shares of the oil and gas company’s stock worth $611,000 after acquiring an additional 395 shares during the last quarter. Finally, Caprock Group LLC boosted its position in Schlumberger by 16.9% during the fourth quarter. Caprock Group LLC now owns 24,259 shares of the oil and gas company’s stock worth $1,268,000 after acquiring an additional 3,514 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SLB shares. Susquehanna restated a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research report on Tuesday, February 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 price target on shares of Schlumberger in a report on Thursday, February 8th. Barclays decreased their price target on shares of Schlumberger from $77.00 to $74.00 and set an “overweight” rating on the stock in a report on Monday, January 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, March 4th. Finally, Stifel Nicolaus lifted their price target on shares of Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a report on Monday, January 22nd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $70.87.

Check Out Our Latest Stock Analysis on SLB

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Mogharbel Khaled Al sold 38,570 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total value of $1,944,699.40. Following the completion of the sale, the executive vice president now owns 386,841 shares of the company’s stock, valued at approximately $19,504,523.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Insiders have sold 172,191 shares of company stock valued at $8,636,322 in the last quarter. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $54.81 on Friday. The company’s fifty day simple moving average is $50.60 and its 200-day simple moving average is $53.15. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The company has a market cap of $78.24 billion, a PE ratio of 18.77, a P/E/G ratio of 0.98 and a beta of 1.59.

Schlumberger (NYSE:SLBGet Free Report) last released its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The firm had revenue of $8.99 billion for the quarter, compared to the consensus estimate of $8.96 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.54 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Wednesday, February 7th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.82%. The ex-dividend date is Tuesday, February 6th. Schlumberger’s dividend payout ratio (DPR) is 34.25%.

Schlumberger Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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