Axxcess Wealth Management LLC Has $1.16 Million Holdings in Schlumberger Limited (NYSE:SLB)

Axxcess Wealth Management LLC lowered its position in Schlumberger Limited (NYSE:SLB) by 1.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 30,147 shares of the oil and gas company’s stock after selling 395 shares during the period. Axxcess Wealth Management LLC’s holdings in Schlumberger were worth $1,156,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in Schlumberger in the third quarter valued at approximately $29,000. YANKCOM Partnership bought a new stake in Schlumberger during the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger in the fourth quarter worth approximately $32,000. Golden State Wealth Management LLC bought a new position in Schlumberger during the 4th quarter valued at $34,000. Finally, Hager Investment Management Services LLC bought a new position in shares of Schlumberger during the fourth quarter valued at about $38,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Up 0.5 %

Shares of SLB opened at $41.29 on Friday. The firm’s 50-day moving average price is $41.13 and its 200-day moving average price is $41.43. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $56.14 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS 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 a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.76%. Schlumberger’s payout ratio is currently 36.66%.

Insiders Place Their Bets

In related news, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was 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 owns 11,240 shares of the company’s stock, valued at $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 290,772 shares of company stock valued at $12,546,660. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SLB. Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Barclays decreased their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. TD Cowen raised their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Jefferies Financial Group cut their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.81.

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.