Industrial Alliance Investment Management Inc. Buys 46,170 Shares of Schlumberger Limited (NYSE:SLB)

Industrial Alliance Investment Management Inc. raised its holdings in Schlumberger Limited (NYSE:SLB – Get Rating) by 50.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 137,488 shares of the oil and gas company’s stock after purchasing an additional 46,170 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Schlumberger were worth $4,936,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in Schlumberger in the 1st quarter valued at $25,000. Clearview Wealth Advisors LLC raised its position in Schlumberger by 1,346.0% in the 3rd quarter. Clearview Wealth Advisors LLC now owns 723 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 673 shares during the last quarter. James Investment Research Inc. bought a new position in Schlumberger in the 3rd quarter valued at $28,000. SRS Capital Advisors Inc. raised its position in Schlumberger by 216.0% in the 2nd quarter. SRS Capital Advisors Inc. now owns 809 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 553 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Schlumberger by 59.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 928 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 347 shares during the last quarter. Institutional investors own 80.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SLB shares. Raymond James began coverage on Schlumberger in a research report on Friday, December 9th. They issued an “outperform” rating and a $65.00 price objective for the company. Piper Sandler lifted their target price on Schlumberger from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, November 18th. Barclays lifted their target price on Schlumberger from $62.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, January 25th. Griffin Securities reissued a “buy” rating on shares of Schlumberger in a research note on Monday, January 16th. Finally, HSBC lifted their target price on Schlumberger from $56.80 to $75.00 and gave the company a “buy” rating in a research note on Monday, January 30th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.38.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, VP Kevin Fyfe sold 36,850 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $57.50, for a total value of $2,118,875.00. Following the completion of the transaction, the vice president now directly owns 32,105 shares of the company’s stock, valued at $1,846,037.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Gavin Rennick sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $54.10, for a total value of $1,082,000.00. Following the sale, the insider now directly owns 64,393 shares in the company, valued at $3,483,661.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Kevin Fyfe sold 36,850 shares of the business’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $57.50, for a total value of $2,118,875.00. Following the completion of the sale, the vice president now owns 32,105 shares in the company, valued at $1,846,037.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,696 shares of company stock valued at $15,227,195. Company insiders own 0.23% of the company’s stock.

Schlumberger Stock Down 8.2 %

NYSE:SLB opened at $45.32 on Thursday. Schlumberger Limited has a 1 year low of $30.65 and a 1 year high of $62.78. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.59. The stock has a market cap of $64.73 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 0.44 and a beta of 1.77. The stock has a 50-day moving average price of $54.74 and a two-hundred day moving average price of $49.50.

Schlumberger (NYSE:SLB – Get Rating) last posted its earnings results on Friday, January 20th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Schlumberger had a return on equity of 18.51% and a net margin of 12.25%. The firm had revenue of $7.88 billion during the quarter, compared to analysts’ expectations of $7.80 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. The company’s revenue was up 26.6% on a year-over-year basis. As a group, equities analysts expect that Schlumberger Limited will post 3.02 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 6th. Shareholders of record on Wednesday, February 8th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.21%. This is a boost from Schlumberger’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, February 7th. Schlumberger’s payout ratio is presently 41.67%.

About Schlumberger

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s digital solutions and data products with its Asset Performance Solutions (APS).