Aigen Investment Management LP Makes New $681,000 Investment in Schlumberger Limited (NYSE:SLB)

Aigen Investment Management LP purchased a new stake in Schlumberger Limited (NYSE:SLBFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 13,093 shares of the oil and gas company’s stock, valued at approximately $681,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Schlumberger by 1.1% during the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock worth $7,609,804,000 after buying an additional 1,412,821 shares during the last quarter. FMR LLC increased its holdings in shares of Schlumberger by 1.1% during the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock worth $1,584,099,000 after acquiring an additional 282,709 shares during the last quarter. Norges Bank acquired a new position in shares of Schlumberger during the 4th quarter worth approximately $1,000,292,000. Morgan Stanley raised its stake in Schlumberger by 1.9% in the 3rd quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after acquiring an additional 292,817 shares during the period. Finally, Invesco Ltd. lifted its holdings in Schlumberger by 30.5% during the 3rd quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock valued at $488,020,000 after purchasing an additional 1,954,620 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on SLB shares. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Susquehanna reissued a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Royal Bank of Canada boosted their price objective on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Finally, BMO Capital Markets decreased their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.72.

Read Our Latest Report on SLB

Schlumberger Price Performance

Shares of SLB stock opened at $46.95 on Thursday. The business has a fifty day simple moving average of $51.19 and a 200 day simple moving average of $50.90. The company has a market cap of $67.11 billion, a P/E ratio of 15.44, a P/E/G ratio of 0.93 and a beta of 1.64. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a twelve month low of $42.73 and a twelve month high of $62.12.

Schlumberger (NYSE:SLBGet Free Report) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company posted $0.63 EPS. On average, sell-side analysts forecast that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.34%. Schlumberger’s dividend payout ratio is 36.54%.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,428 shares of company stock worth $7,613,612. Insiders own 0.26% of the company’s stock.

Schlumberger Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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