Syntax Research Inc. Buys Shares of 83,207 Schlumberger Limited (NYSE:SLB)

Syntax Research Inc. acquired a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 83,207 shares of the oil and gas company's stock, valued at approximately $3,491,000. Schlumberger accounts for 2.4% of Syntax Research Inc.'s investment portfolio, making the stock its 15th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its holdings in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 484 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger during the third quarter valued at $29,000. Unique Wealth Strategies LLC purchased a new stake in Schlumberger during the 2nd quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new position in Schlumberger in the 3rd quarter valued at about $37,000. Finally, DiNuzzo Private Wealth Inc. lifted its holdings in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company's stock valued at $40,000 after purchasing an additional 876 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analysts Set New Price Targets

SLB has been the subject of several analyst reports. Citigroup dropped their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Monday, December 9th. Atb Cap Markets cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $60.00 target price (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Bank of America dropped their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Finally, Wells Fargo & Company reduced their price objective on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $60.15.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company's stock.

Schlumberger Price Performance

Schlumberger stock traded down $1.60 during midday trading on Wednesday, hitting $37.33. The company's stock had a trading volume of 15,642,042 shares, compared to its average volume of 11,203,431. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The stock's 50-day moving average price is $42.51 and its 200-day moving average price is $43.89. Schlumberger Limited has a 12 month low of $37.28 and a 12 month high of $55.69. The company has a market capitalization of $52.72 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company's revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $0.78 EPS. Analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.95%. Schlumberger's payout ratio is presently 35.37%.

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.