Axxcess Wealth Management LLC Has $1.69 Million Stake in Schlumberger Limited (NYSE:SLB)

Axxcess Wealth Management LLC lifted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 206.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,426 shares of the oil and gas company's stock after purchasing an additional 21,833 shares during the period. Axxcess Wealth Management LLC's holdings in Schlumberger were worth $1,687,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Royal Bank of Canada boosted its position in shares of Schlumberger by 79.7% in the third quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company's stock valued at $286,835,000 after acquiring an additional 2,182,706 shares during the period. Sanders Capital LLC boosted its holdings in Schlumberger by 34.9% in the 3rd quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company's stock valued at $469,693,000 after purchasing an additional 2,085,506 shares during the period. Invesco Ltd. grew its position in Schlumberger by 30.5% in the 3rd quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company's stock worth $488,020,000 after purchasing an additional 1,954,620 shares during the last quarter. Capital Wealth Planning LLC increased its holdings in shares of Schlumberger by 48.2% during the 3rd quarter. Capital Wealth Planning LLC now owns 5,555,662 shares of the oil and gas company's stock worth $323,895,000 after purchasing an additional 1,807,061 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Schlumberger by 1.1% during the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company's stock valued at $7,609,804,000 after buying an additional 1,412,821 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares of the company's stock, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Stephane Biguet sold 6,250 shares of the business's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the sale, the chief financial officer now directly owns 242,932 shares of the company's stock, valued at $11,816,212.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Abdellah Merad sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Schlumberger Price Performance

Shares of SLB stock traded up $0.31 during trading hours on Monday, hitting $47.97. 9,857,742 shares of the company's stock were exchanged, compared to its average volume of 11,153,605. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12. The stock has a market cap of $68.57 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The stock's 50-day moving average is $51.62 and its 200-day moving average is $51.58.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts' consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company's revenue was up 12.6% on a year-over-year basis. As a group, research analysts forecast that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, June 5th. This is a boost from Schlumberger's previous quarterly dividend of $0.25. Schlumberger's payout ratio is 36.54%.

Analysts Set New Price Targets

SLB has been the topic of several research reports. HSBC restated a "buy" rating and set a $71.00 price target on shares of Schlumberger in a research note on Thursday, April 4th. The Goldman Sachs Group restated a "buy" rating on shares of Schlumberger in a research report on Monday, April 1st. TD Cowen reduced their target price on Schlumberger from $64.00 to $63.00 and set a "buy" rating for the company in a research report on Monday, April 22nd. Benchmark reissued a "buy" rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Finally, Bank of America reduced their price objective on shares of Schlumberger from $63.00 to $62.00 and set a "buy" rating for the company in a report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $68.72.

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