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

Key Points

• iA Global Asset Management Inc. increased its stake in Schlumberger Limited by 47.5% during Q1, owning 99,971 shares valued at approximately $4.18 million.
• Several institutional investors have also significantly raised their holdings in Schlumberger, contributing to a total 81.99% institutional ownership of the company.
• Schlumberger declared a quarterly dividend of $0.285, slated for payment on October 9th, demonstrating a yield of 3.4% for shareholders.

iA Global Asset Management Inc. grew its position in Schlumberger Limited (NYSE:SLB - Free Report) by 47.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,971 shares of the oil and gas company's stock after purchasing an additional 32,198 shares during the quarter. iA Global Asset Management Inc.'s holdings in Schlumberger were worth $4,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Scharf Investments LLC grew its position in Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after purchasing an additional 281,773 shares during the last quarter. Integrated Advisors Network LLC grew its position in Schlumberger by 810.4% during the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after purchasing an additional 66,907 shares during the last quarter. Alan B Lancz & Associates Inc. purchased a new position in Schlumberger during the 1st quarter worth $308,000. Stratos Investment Management LLC grew its position in Schlumberger by 236.0% during the 1st quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock worth $6,141,000 after purchasing an additional 103,182 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Schlumberger in the fourth quarter valued at about $56,507,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SLB has been the topic of several analyst reports. Barclays lowered their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Jefferies Financial Group lowered their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Wells Fargo & Company downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Morgan Stanley lowered their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Schlumberger has an average rating of "Moderate Buy" and an average price target of $49.28.

Schlumberger Price Performance

SLB traded up $0.11 during midday trading on Friday, reaching $32.90. 10,215,438 shares of the company's stock were exchanged, compared to its average volume of 19,141,180. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market capitalization of $44.46 billion, a PE ratio of 11.27, a P/E/G ratio of 9.10 and a beta of 1.03. The business's 50-day moving average price is $34.72 and its 200 day moving average price is $36.91. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.16.

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

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is currently 39.04%.

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.