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

Intact Investment Management Inc. bought a new position in shares of Schlumberger Limited (NYSE:SLB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 69,900 shares of the oil and gas company’s stock, valued at approximately $3,638,000.

Other large investors have also bought and sold shares of the company. BluePath Capital Management LLC bought a new position in Schlumberger during the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Schlumberger during the 4th quarter worth $26,000. MCF Advisors LLC grew its holdings in Schlumberger by 1,355.9% during the 3rd quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 461 shares during the period. Janiczek Wealth Management LLC grew its holdings in Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 602 shares during the period. Finally, Pinnacle Bancorp Inc. grew its holdings in Schlumberger by 64.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 292 shares during the period. 81.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLB. Bank of America decreased their price target on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Morgan Stanley restated an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Stifel Nicolaus restated a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Finally, Barclays reduced their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. One 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, the company has an average rating of “Moderate Buy” and a consensus target price of $69.67.

Insider Activity at Schlumberger

In other Schlumberger news, insider Katharina Beumelburg sold 8,000 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $52.62, for a total value of $420,960.00. Following the completion of the sale, the insider now owns 15,581 shares in the company, valued at approximately $819,872.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction that occurred 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 approximately $13,151,825.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Katharina Beumelburg sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.62, for a total value of $420,960.00. Following the transaction, the insider now directly owns 15,581 shares of the company’s stock, valued at approximately $819,872.22. The disclosure for this sale can be found here. Insiders sold 90,545 shares of company stock worth $4,458,430 in the last ninety days. 0.26% of the stock is owned by company insiders.

Schlumberger Price Performance

Shares of SLB traded down $0.24 during midday trading on Friday, reaching $49.20. The stock had a trading volume of 8,250,858 shares, compared to its average volume of 9,808,635. The company’s 50-day moving average is $51.74 and its 200 day moving average is $52.13. Schlumberger Limited has a 12-month low of $42.73 and a 12-month high of $62.12. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $70.32 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 EPS. On average, equities analysts predict that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

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

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.