iA Global Asset Management Inc. Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

iA Global Asset Management Inc. decreased its stake in shares of Schlumberger Limited (NYSE:SLB) by 41.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 46,476 shares of the oil and gas company’s stock after selling 33,068 shares during the quarter. iA Global Asset Management Inc.’s holdings in Schlumberger were worth $1,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. ORG Partners LLC raised its holdings in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the period. Unique Wealth Strategies LLC acquired a new stake in Schlumberger during the second quarter worth about $30,000. Riverview Trust Co raised its stake in Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the period. Prospera Private Wealth LLC acquired a new position in Schlumberger in the 3rd quarter valued at about $29,000. Finally, Bangor Savings Bank grew its stake in shares of Schlumberger by 48.9% in the 2nd quarter. Bangor Savings Bank now owns 789 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 259 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent analyst reports. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. UBS Group lowered their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company lowered their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Finally, Evercore ISI reduced their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

Shares of NYSE SLB opened at $40.96 on Monday. The stock’s 50-day moving average is $43.02 and its two-hundred day moving average is $44.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company has a market cap of $57.84 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.45 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the company earned $0.78 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. Analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.69%. Schlumberger’s payout ratio is currently 35.37%.

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.