Schlumberger Limited (NYSE:SLB) Stake Lowered by Intact Investment Management Inc.

Intact Investment Management Inc. cut its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 5.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 148,200 shares of the oil and gas company's stock after selling 8,100 shares during the period. Intact Investment Management Inc.'s holdings in Schlumberger were worth $6,195,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. TCW Group Inc. boosted its holdings in shares of Schlumberger by 1.3% in the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock valued at $759,000 after buying an additional 259 shares during the period. Vident Advisory LLC lifted its position in Schlumberger by 1.0% in the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after purchasing an additional 273 shares during the last quarter. Glen Eagle Advisors LLC lifted its position in Schlumberger by 3.7% in the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock valued at $301,000 after purchasing an additional 282 shares during the last quarter. Pinnacle Financial Partners Inc lifted its position in Schlumberger by 0.5% in the 4th quarter. Pinnacle Financial Partners Inc now owns 67,161 shares of the oil and gas company's stock valued at $2,774,000 after purchasing an additional 309 shares during the last quarter. Finally, Heritage Wealth Management Inc. Texas lifted its position in Schlumberger by 2.2% in the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock valued at $616,000 after purchasing an additional 318 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Jefferies Financial Group cut their price objective on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Stifel Nicolaus cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Piper Sandler cut their price objective on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, Barclays cut their price objective on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Schlumberger has a consensus rating of "Moderate Buy" and an average price target of $52.38.

Schlumberger Price Performance

Shares of SLB traded down $0.04 during mid-day trading on Friday, hitting $35.82. The company's stock had a trading volume of 29,993,139 shares, compared to its average volume of 13,603,827. The firm has a 50-day moving average price of $34.54 and a 200 day moving average price of $38.06. The stock has a market capitalization of $48.71 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 9.29 and a beta of 1.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. On average, research analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.18%. Schlumberger's dividend payout ratio is currently 38.64%.

Insider Transactions at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger 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 transaction, the director now directly owns 23,525 shares of the company's stock, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the transaction, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

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.