Aigen Investment Management LP Trims Stock Position in Schlumberger Limited (NYSE:SLB)

Key Points

• Aigen Investment Management LP has significantly reduced its stake in Schlumberger Limited by 79.4%, now holding 18,763 shares valued at approximately $784,000.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, which will be paid to investors on October 9th, resulting in an annualized dividend yield of 3.5%.
• Equities research analysts have mixed outlooks on Schlumberger, with an average price target of $49.28, as various firms have both raised and lowered their target prices on the company's stock.

Aigen Investment Management LP trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 79.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,763 shares of the oil and gas company's stock after selling 72,277 shares during the quarter. Aigen Investment Management LP's holdings in Schlumberger were worth $784,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SLB. Scharf Investments LLC lifted its stake in Schlumberger by 20.5% during the first 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 lifted its stake in Schlumberger by 810.4% during the first 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. bought a new stake in Schlumberger during the first quarter worth about $308,000. Stratos Investment Management LLC lifted its stake in Schlumberger by 236.0% during the first 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 bought a new stake in Schlumberger during the fourth quarter worth about $56,507,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on SLB. Susquehanna dropped their price target on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Morgan Stanley lowered their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. JPMorgan Chase & Co. lowered their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Finally, UBS Group boosted their target price on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $49.28.

Insider Transactions at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm'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 transaction of $167,900.00. Following the completion of the sale, the director owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company's stock.

Schlumberger Price Performance

Shares of Schlumberger stock traded down $0.31 during trading hours on Thursday, reaching $33.24. The stock had a trading volume of 16,282,212 shares, compared to its average volume of 16,436,465. The stock's 50 day moving average is $34.68 and its 200 day moving average is $36.72. The firm has a market capitalization of $44.92 billion, a PE ratio of 11.38, a PEG ratio of 9.14 and a beta of 1.03. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.16. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

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

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio is currently 39.04%.

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.