Schlumberger Limited (NYSE:SLB) Position Boosted by Aigen Investment Management LP

Aigen Investment Management LP grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 214.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,040 shares of the oil and gas company’s stock after purchasing an additional 62,089 shares during the quarter. Schlumberger comprises about 0.6% of Aigen Investment Management LP’s investment portfolio, making the stock its 20th biggest position. Aigen Investment Management LP’s holdings in Schlumberger were worth $3,490,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stephens Inc. AR grew its holdings in Schlumberger by 37.3% during the third quarter. Stephens Inc. AR now owns 14,035 shares of the oil and gas company’s stock valued at $589,000 after purchasing an additional 3,812 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Schlumberger by 24.9% during the third quarter. Janney Montgomery Scott LLC now owns 261,421 shares of the oil and gas company’s stock worth $10,967,000 after buying an additional 52,134 shares in the last quarter. Forum Financial Management LP boosted its stake in Schlumberger by 1.7% during the third quarter. Forum Financial Management LP now owns 19,417 shares of the oil and gas company’s stock worth $815,000 after buying an additional 329 shares in the last quarter. Intact Investment Management Inc. increased its holdings in Schlumberger by 40.7% in the 3rd quarter. Intact Investment Management Inc. now owns 127,500 shares of the oil and gas company’s stock valued at $5,349,000 after buying an additional 36,890 shares during the period. Finally, National Pension Service raised its stake in shares of Schlumberger by 10.6% in the 3rd quarter. National Pension Service now owns 2,711,382 shares of the oil and gas company’s stock valued at $113,742,000 after buying an additional 259,302 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the transaction, the executive vice president now owns 184,626 shares in the company, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction 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 transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 290,772 shares of company stock worth $12,546,660. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Barclays cut their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Finally, Stifel Nicolaus decreased their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Six equities 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Stock Performance

NYSE:SLB opened at $39.05 on Wednesday. The stock has a 50 day simple moving average of $40.59 and a 200 day simple moving average of $41.72. The stock has a market cap of $53.10 billion, a P/E ratio of 12.56, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. 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 issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share 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 during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the prior year, the firm posted $0.86 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.92%. Schlumberger’s payout ratio is presently 36.66%.

About Schlumberger

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.