Syntax Research Inc. Invests $3.49 Million in Schlumberger Limited (NYSE:SLB)

Syntax Research Inc. purchased a new stake in Schlumberger Limited (NYSE:SLB) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 83,207 shares of the oil and gas company’s stock, valued at approximately $3,491,000. Schlumberger accounts for about 2.4% of Syntax Research Inc.’s portfolio, making the stock its 15th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in shares of Schlumberger by 2.0% in the second quarter. Raymond James & Associates now owns 889,375 shares of the oil and gas company’s stock valued at $41,961,000 after acquiring an additional 17,346 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Schlumberger by 6.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 332,410 shares of the oil and gas company’s stock valued at $15,683,000 after buying an additional 18,826 shares during the period. Griffin Asset Management Inc. boosted its stake in shares of Schlumberger by 3.3% in the second quarter. Griffin Asset Management Inc. now owns 73,930 shares of the oil and gas company’s stock valued at $3,488,000 after buying an additional 2,393 shares in the last quarter. Oak Family Advisors LLC grew its holdings in Schlumberger by 61.3% during the second quarter. Oak Family Advisors LLC now owns 113,922 shares of the oil and gas company’s stock worth $5,375,000 after acquiring an additional 43,287 shares during the period. Finally, 1620 Investment Advisors Inc. raised its position in Schlumberger by 858.9% in the second quarter. 1620 Investment Advisors Inc. now owns 9,963 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 8,924 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SLB. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Bank of America dropped their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Stifel Nicolaus reissued a “buy” rating and set a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, UBS Group decreased their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Three investment 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.74.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 2.4 %

Shares of NYSE SLB opened at $38.93 on Wednesday. The firm has a market cap of $54.98 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. The firm’s 50 day moving average price is $42.51 and its 200 day moving average price is $43.89.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.83%. Schlumberger’s payout ratio is currently 35.37%.

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.