Intact Investment Management Inc. Invests $3.64 Million in Schlumberger Limited (NYSE:SLB)

Intact Investment Management Inc. acquired a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 69,900 shares of the oil and gas company's stock, valued at approximately $3,638,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its position in shares of Schlumberger by 3,008.8% during the third quarter. Exchange Traded Concepts LLC now owns 6,031 shares of the oil and gas company's stock valued at $352,000 after buying an additional 5,837 shares during the period. Koshinski Asset Management Inc. bought a new stake in shares of Schlumberger during the third quarter valued at about $201,000. Ballentine Partners LLC increased its position in shares of Schlumberger by 3.1% during the third quarter. Ballentine Partners LLC now owns 9,060 shares of the oil and gas company's stock valued at $528,000 after buying an additional 269 shares during the period. MCF Advisors LLC increased its position in shares of Schlumberger by 1,355.9% during the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company's stock valued at $29,000 after buying an additional 461 shares during the period. Finally, Valeo Financial Advisors LLC increased its position in shares of Schlumberger by 3.9% during the third quarter. Valeo Financial Advisors LLC now owns 29,914 shares of the oil and gas company's stock valued at $1,744,000 after buying an additional 1,119 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Down 0.5 %

SLB stock traded down $0.24 on Friday, reaching $49.20. The company's stock had a trading volume of 8,250,858 shares, compared to its average volume of 9,808,635. The firm has a market cap of $70.32 billion, a PE ratio of 16.35, a PEG ratio of 0.95 and a beta of 1.60. The business has a fifty day simple moving average of $51.74 and a two-hundred day simple moving average of $52.08. Schlumberger Limited has a 12-month low of $42.73 and a 12-month high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. The business had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. As a group, research analysts forecast that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.24%. This is a boost from Schlumberger's previous quarterly dividend of $0.25. Schlumberger's payout ratio is 36.54%.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, January 22nd. Susquehanna restated a "positive" rating and issued a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Bank of America decreased their price objective on shares of Schlumberger from $63.00 to $62.00 and set a "buy" rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets decreased their price objective on shares of Schlumberger from $66.00 to $64.00 and set an "outperform" rating on the stock in a research report on Monday, April 22nd. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Schlumberger in a research report on Monday, April 1st. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and an average target price of $69.67.

Insider Activity at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the firm's stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares of the company's stock, valued at $13,151,825.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the firm's stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares of the company's stock, valued at $13,151,825.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Abdellah Merad sold 50,000 shares of the firm's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares of the company's stock, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Insiders have sold a total of 90,545 shares of company stock worth $4,458,430 over the last quarter. Corporate 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.