Aigen Investment Management LP Raises Stock Position in Schlumberger Limited (NYSE:SLB)

Aigen Investment Management LP lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 133.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,951 shares of the oil and gas company’s stock after acquiring an additional 16,572 shares during the quarter. Aigen Investment Management LP’s holdings in Schlumberger were worth $1,214,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Financial Advocates Investment Management boosted its stake in shares of Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 218 shares in the last quarter. Chilton Capital Management LLC boosted its stake in shares of Schlumberger by 0.8% during the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after purchasing an additional 219 shares in the last quarter. Grove Bank & Trust boosted its stake in shares of Schlumberger by 17.4% during the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 224 shares in the last quarter. First PREMIER Bank boosted its stake in shares of Schlumberger by 8.7% during the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 227 shares in the last quarter. Finally, Addison Advisors LLC boosted its stake in shares of Schlumberger by 6.5% during the second quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after purchasing an additional 233 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

SLB has been the topic of a number of recent research reports. Bank of America dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Morgan Stanley reduced their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Citigroup cut their price objective on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Stock Up 0.1 %

Shares of Schlumberger stock opened at $44.34 on Wednesday. The company has a market cap of $62.61 billion, a P/E ratio of 14.26, a PEG ratio of 1.56 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a one year low of $38.66 and a one year high of $55.69. The firm has a fifty day moving average of $42.22 and a two-hundred day moving average of $44.80.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. Schlumberger’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 EPS. On average, analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. 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 2.48%. Schlumberger’s dividend payout ratio is presently 35.37%.

Schlumberger Company 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.