iA Global Asset Management Inc. Increases Stock Position in Schlumberger Limited (NYSE:SLB)

iA Global Asset Management Inc. raised its holdings in Schlumberger Limited (NYSE:SLB) by 45.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,773 shares of the oil and gas company’s stock after purchasing an additional 21,297 shares during the period. iA Global Asset Management Inc.’s holdings in Schlumberger were worth $2,598,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger in the third quarter valued at about $29,000. YANKCOM Partnership purchased a new stake in shares of Schlumberger in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $34,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SLB. Wells Fargo & Company cut their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Barclays cut their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Citigroup boosted their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Evercore ISI reissued an “in-line” rating and issued a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Price Performance

SLB opened at $41.09 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a 50 day moving average of $41.18 and a two-hundred day moving average of $41.41. The company has a market cap of $55.87 billion, a P/E ratio of 13.21, a P/E/G ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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 net margin of 12.29% and a return on equity of 21.90%. 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 firm earned $0.86 earnings per share. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently announced 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 an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.77%. Schlumberger’s dividend payout ratio is 36.66%.

Insider Activity

In other news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, 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. Over the last three months, insiders sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is currently owned by company insiders.

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.