Synergy Asset Management LLC Buys 374,857 Shares of Schlumberger Limited (NYSE:SLB)

Synergy Asset Management LLC lifted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 121.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 683,433 shares of the oil and gas company's stock after acquiring an additional 374,857 shares during the quarter. Schlumberger accounts for 2.1% of Synergy Asset Management LLC's investment portfolio, making the stock its 11th largest position. Synergy Asset Management LLC's holdings in Schlumberger were worth $27,339,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in SLB. Grove Bank & Trust boosted its position in shares of Schlumberger by 17.4% during the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company's stock worth $64,000 after buying an additional 224 shares during the period. M&R Capital Management Inc. grew its position in shares of Schlumberger by 1.7% during the third quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company's stock worth $622,000 after buying an additional 241 shares in the last quarter. CX Institutional grew its holdings in Schlumberger by 2.4% during the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company's stock worth $398,000 after acquiring an additional 244 shares in the last quarter. GM Advisory Group LLC increased its position in shares of Schlumberger by 3.8% in the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company's stock valued at $281,000 after purchasing an additional 247 shares during the last quarter. Finally, Cordatus Wealth Management LLC raised its holdings in shares of Schlumberger by 2.1% in the 3rd quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company's stock valued at $561,000 after purchasing an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Stock Up 0.2 %

Shares of Schlumberger stock traded up $0.09 during midday trading on Thursday, hitting $41.03. The company's stock had a trading volume of 10,163,764 shares, compared to its average volume of 15,394,012. The firm has a market capitalization of $57.93 billion, a P/E ratio of 13.19, a PEG ratio of 9.98 and a beta of 1.52. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The stock has a 50-day simple moving average of $40.64 and a 200-day simple moving average of $42.65.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating 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 company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The firm's quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that Schlumberger Limited will post 3.34 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.78%. Schlumberger's dividend payout ratio is 35.37%.

Insider Buying and Selling

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares of the company's stock, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the firm's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the transaction, the executive vice president now owns 210,502 shares in the company, valued at $8,723,202.88. This represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,258 shares of company stock worth $11,219,004. Corporate insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, December 23rd. Atb Cap Markets lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. TD Cowen lifted their target price on shares of Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Griffin Securities lowered Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Finally, Piper Sandler initiated coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a "neutral" rating and a $47.00 price objective for the company. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Schlumberger currently has a consensus rating of "Moderate Buy" and an average price target of $55.81.

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.