Synergy Asset Management LLC Boosts Stock Holdings in Schlumberger Limited (NYSE:SLB)

Synergy Asset Management LLC grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 121.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 683,433 shares of the oil and gas company’s stock after buying an additional 374,857 shares during the period. Schlumberger accounts for approximately 2.1% of Synergy Asset Management LLC’s holdings, making the stock its 11th biggest holding. Synergy Asset Management LLC’s holdings in Schlumberger were worth $27,339,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baader Bank Aktiengesellschaft purchased a new position in shares of Schlumberger in the 4th quarter worth about $435,000. Hanson & Doremus Investment Management grew its holdings in shares of Schlumberger by 5.9% during the 4th quarter. Hanson & Doremus Investment Management now owns 65,281 shares of the oil and gas company’s stock worth $2,503,000 after purchasing an additional 3,623 shares during the period. R Squared Ltd acquired a new stake in Schlumberger during the 4th quarter worth approximately $166,000. Wealth Effects LLC purchased a new position in Schlumberger in the fourth quarter valued at approximately $360,000. Finally, Stonegate Investment Group LLC lifted its position in Schlumberger by 22.3% during the fourth quarter. Stonegate Investment Group LLC now owns 27,706 shares of the oil and gas company’s stock valued at $1,062,000 after buying an additional 5,053 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

SLB opened at $40.87 on Thursday. The company has a market capitalization of $57.71 billion, a P/E ratio of 13.14, a PEG ratio of 9.98 and a beta of 1.52. The company has a 50-day moving average of $40.69 and a 200-day moving average of $42.66. 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 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same period last year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts expect that Schlumberger Limited will post 3.34 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is currently 35.37%.

Analysts Set New Price Targets

Several research firms have recently issued reports on SLB. Bank of America dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. BMO Capital Markets decreased their target price on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction 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. This represents a 40.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the transaction, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 258,258 shares of company stock worth $11,219,004 over the last ninety days. 0.26% of the stock is owned by insiders.

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.