Axxcess Wealth Management LLC Cuts Stake in Schlumberger Limited (NYSE:SLB)

Axxcess Wealth Management LLC trimmed its position in Schlumberger Limited (NYSE:SLB) by 1.3% during the 4th quarter, HoldingsChannel reports. The firm owned 30,147 shares of the oil and gas company’s stock after selling 395 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Schlumberger were worth $1,156,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky boosted its stake in Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after buying an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB grew its stake in Schlumberger by 27.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares in the last quarter. Bryn Mawr Capital Management LLC increased its position in shares of Schlumberger by 502.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock worth $7,592,000 after acquiring an additional 165,162 shares during the period. Narwhal Capital Management boosted its holdings in shares of Schlumberger by 225.5% in the fourth quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company’s stock valued at $2,862,000 after purchasing an additional 51,715 shares during the period. Finally, Czech National Bank grew its stake in Schlumberger by 5.8% in the fourth quarter. Czech National Bank now owns 306,183 shares of the oil and gas company’s stock worth $11,739,000 after purchasing an additional 16,914 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. The trade was a 33.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock worth $12,546,660 in the last quarter. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SLB shares. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler began coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Barclays cut their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, BMO Capital Markets reduced their price target on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Up 0.5 %

SLB stock opened at $41.29 on Friday. The company has a market capitalization of $56.14 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The firm’s fifty day simple moving average is $41.13 and its 200-day simple moving average is $41.43. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the previous year, the company posted $0.86 earnings per share. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.76%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 36.66%.

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.