Syntax Research Inc. Sells 22,824 Shares of Schlumberger Limited $SLB

Key Points

• Syntax Research Inc. reduced its stake in Schlumberger Limited by 29.8%, selling 22,824 shares during the second quarter, leaving them with 53,817 shares valued at approximately $1.8 million.
• Schlumberger's quarterly earnings report revealed an EPS of $0.74, exceeding expectations, but revenue decreased by 6.5% year-over-year to $8.55 billion.
• The company announced a quarterly dividend of $0.285, with an annualized yield of 3.3%, set to be paid on October 9th to shareholders of record

Syntax Research Inc. lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 29.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,817 shares of the oil and gas company's stock after selling 22,824 shares during the quarter. Schlumberger accounts for approximately 1.3% of Syntax Research Inc.'s investment portfolio, making the stock its 29th biggest holding. Syntax Research Inc.'s holdings in Schlumberger were worth $1,819,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. ASR Vermogensbeheer N.V. lifted its position in shares of Schlumberger by 17.5% in the second quarter. ASR Vermogensbeheer N.V. now owns 1,574,890 shares of the oil and gas company's stock worth $53,227,000 after purchasing an additional 234,684 shares in the last quarter. Philip James Wealth Mangement LLC lifted its position in shares of Schlumberger by 302.7% in the second quarter. Philip James Wealth Mangement LLC now owns 23,544 shares of the oil and gas company's stock worth $796,000 after purchasing an additional 17,697 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Schlumberger by 13.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 378,993 shares of the oil and gas company's stock worth $12,810,000 after purchasing an additional 44,940 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its position in shares of Schlumberger by 0.9% in the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 158,756 shares of the oil and gas company's stock worth $5,366,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC raised its position in Schlumberger by 14.1% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 9,781 shares of the oil and gas company's stock worth $333,000 after acquiring an additional 1,207 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

NYSE:SLB opened at $34.13 on Friday. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.15. The firm has a market cap of $50.97 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 9.74 and a beta of 0.97. The firm's 50-day simple moving average is $34.65 and its 200 day simple moving average is $35.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same period last year, the firm earned $0.85 earnings per share. Schlumberger's revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares of the company's stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SLB has been the topic of several analyst reports. Melius Research initiated coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target on the stock. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. UBS Group dropped their price target on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price target on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Finally, Susquehanna dropped their price target on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.18.

Schlumberger 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, 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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