Synergy Asset Management LLC Decreases Stock Position in Schlumberger Limited (NYSE:SLB)

Synergy Asset Management LLC lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 35.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 438,944 shares of the oil and gas company's stock after selling 244,489 shares during the period. Schlumberger accounts for approximately 2.3% of Synergy Asset Management LLC's portfolio, making the stock its 13th largest holding. Synergy Asset Management LLC's holdings in Schlumberger were worth $18,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. TCW Group Inc. raised its stake in Schlumberger by 1.3% during the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock valued at $759,000 after buying an additional 259 shares in the last quarter. Vident Advisory LLC raised its position in shares of Schlumberger by 1.0% during the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after acquiring an additional 273 shares in the last quarter. Glen Eagle Advisors LLC raised its holdings in shares of Schlumberger by 3.7% during the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after purchasing an additional 282 shares during the period. Pinnacle Financial Partners Inc raised its holdings in shares of Schlumberger by 0.5% during the fourth quarter. Pinnacle Financial Partners Inc now owns 67,161 shares of the oil and gas company's stock worth $2,774,000 after purchasing an additional 309 shares during the period. Finally, Heritage Wealth Management Inc. Texas raised its holdings in shares of Schlumberger by 2.2% during the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock worth $616,000 after purchasing an additional 318 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Trading Down 0.1%

Schlumberger stock opened at $35.82 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The firm has a market cap of $48.71 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 9.29 and a beta of 1.01. The firm's 50 day moving average price is $34.54 and its two-hundred day moving average price is $38.08. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business's revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. On average, research analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.18%. Schlumberger's dividend payout ratio is currently 38.64%.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director now owns 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on SLB. Stifel Nicolaus dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Jefferies Financial Group lowered their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. Barclays lowered their price target on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Wells Fargo & Company lowered their target price on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, June 5th. Finally, Susquehanna lowered their target price on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.38.

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.

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