Syntax Research Inc. Has $1.82 Million Position in Schlumberger Limited $SLB

Syntax Research Inc. reduced its stake in Schlumberger Limited (NYSE:SLB) by 29.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,817 shares of the oil and gas company’s stock after selling 22,824 shares during the period. Schlumberger comprises approximately 1.3% of Syntax Research Inc.’s investment portfolio, making the stock its 29th largest position. Syntax Research Inc.’s holdings in Schlumberger were worth $1,819,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. ASR Vermogensbeheer N.V. boosted its stake in shares of Schlumberger by 17.5% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 1,574,890 shares of the oil and gas company’s stock valued at $53,227,000 after purchasing an additional 234,684 shares in the last quarter. Philip James Wealth Mangement LLC boosted its stake in shares of Schlumberger by 302.7% in the 2nd quarter. Philip James Wealth Mangement LLC now owns 23,544 shares of the oil and gas company’s stock valued at $796,000 after purchasing an additional 17,697 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Schlumberger by 13.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 378,993 shares of the oil and gas company’s stock valued at $12,810,000 after purchasing an additional 44,940 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. boosted its stake in shares of Schlumberger by 0.9% in the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 158,756 shares of the oil and gas company’s stock valued at $5,366,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its stake in shares of Schlumberger by 14.1% in the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 9,781 shares of the oil and gas company’s stock valued at $333,000 after purchasing an additional 1,207 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction on 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 completion of the sale, the insider owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.22% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

NYSE:SLB opened at $34.13 on Friday. The company has a fifty day moving average of $34.65 and a 200-day moving average of $35.23. The firm has a market capitalization of $50.97 billion, a P/E ratio of 11.69, a P/E/G ratio of 9.74 and a beta of 0.97. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.15.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. Schlumberger’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. Schlumberger’s payout ratio is currently 39.04%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Melius Research assumed coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Piper Sandler cut their target price on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, July 18th. JPMorgan Chase & Co. cut their target price 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. Susquehanna cut their target price 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. Finally, UBS Group cut their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

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.