Schlumberger Limited (NYSE:SLB) Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 45.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,773 shares of the oil and gas company’s stock after acquiring 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 quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in Schlumberger during the 3rd quarter worth $29,000. YANKCOM Partnership acquired a new position in Schlumberger during the 4th quarter worth $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger during the 4th quarter worth $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger during the 4th quarter worth $34,000. Finally, Hager Investment Management Services LLC acquired a new position in Schlumberger during the 4th quarter worth $38,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent research reports. BMO Capital Markets reduced their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. TD Cowen raised their price target on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Piper Sandler initiated coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Finally, Evercore ISI restated an “in-line” rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Down 0.5 %

SLB stock opened at $41.09 on Friday. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a market capitalization of $55.87 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The firm’s 50-day moving average is $41.18 and its two-hundred day moving average is $41.41. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

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

Schlumberger Increases Dividend

The firm also recently disclosed 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 of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.77%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 36.66%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the transaction, the executive vice president now owns 210,502 shares of the company’s stock, valued at $8,723,202.88. The trade was a 22.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock valued at $12,546,660 in the last quarter. Insiders own 0.26% of the company’s stock.

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.