Alberta Investment Management Corp Acquires 47,920 Shares of Schlumberger Limited (NYSE:SLB)

Alberta Investment Management Corp boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 72.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 113,820 shares of the oil and gas company’s stock after buying an additional 47,920 shares during the quarter. Alberta Investment Management Corp’s holdings in Schlumberger were worth $4,364,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SLB. Teachers Retirement System of The State of Kentucky grew its position in shares of Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after acquiring an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after purchasing an additional 16,350 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after purchasing an additional 65,318 shares during the period. Concurrent Investment Advisors LLC increased its position in Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after buying an additional 14,376 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Schlumberger by 26.0% in the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock valued at $12,880,000 after buying an additional 63,413 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Jefferies Financial Group decreased their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Barclays reduced their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Citigroup lifted their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Trading Up 1.0 %

Shares of Schlumberger stock opened at $42.58 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The firm has a market cap of $59.65 billion, a PE ratio of 13.69, a PEG ratio of 10.11 and a beta of 1.51. The company has a 50 day simple moving average of $40.17 and a two-hundred day simple moving average of $41.92.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 EPS. Analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.68%. Schlumberger’s dividend payout ratio is 36.66%.

Insider Activity at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the transaction, the executive vice president now owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. This trade represents a 40.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 263,782 shares of company stock valued at $11,442,229. Corporate insiders own 0.26% of the company’s stock.

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.