Alberta Investment Management Corp Boosts Stake in Schlumberger Limited. (NYSE:SLB)

Alberta Investment Management Corp raised its position in Schlumberger Limited. (NYSE:SLB) by 464.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 193,200 shares of the oil and gas company’s stock after purchasing an additional 159,000 shares during the quarter. Alberta Investment Management Corp’s holdings in Schlumberger were worth $2,606,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Clear Harbor Asset Management LLC raised its position in Schlumberger by 8.3% in the 1st quarter. Clear Harbor Asset Management LLC now owns 10,774 shares of the oil and gas company’s stock worth $145,000 after purchasing an additional 825 shares during the period. Dai Ichi Life Insurance Company Ltd grew its stake in Schlumberger by 36.8% in the 1st quarter. Dai Ichi Life Insurance Company Ltd now owns 148,744 shares of the oil and gas company’s stock worth $2,007,000 after acquiring an additional 40,000 shares in the last quarter. Citizens & Northern Corp grew its stake in Schlumberger by 112.5% in the 1st quarter. Citizens & Northern Corp now owns 18,086 shares of the oil and gas company’s stock worth $244,000 after acquiring an additional 9,573 shares in the last quarter. Security National Bank of SO Dak grew its stake in Schlumberger by 24.0% in the 1st quarter. Security National Bank of SO Dak now owns 24,865 shares of the oil and gas company’s stock worth $335,000 after acquiring an additional 4,815 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA grew its stake in Schlumberger by 93.9% in the 1st quarter. Security National Bank of Sioux City Iowa IA now owns 47,222 shares of the oil and gas company’s stock worth $638,000 after acquiring an additional 22,872 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors.

SLB has been the topic of a number of research analyst reports. Wolfe Research upgraded shares of Schlumberger from a “peer perform” rating to an “outperform” rating in a research note on Thursday, March 19th. Wells Fargo & Co downgraded shares of Schlumberger from an “overweight” rating to an “equal weight” rating and set a $18.00 target price on the stock. in a research note on Monday, April 13th. Citigroup dropped their target price on shares of Schlumberger from $17.00 to $11.50 and set a “neutral” rating on the stock in a research note on Friday, March 20th. ValuEngine upgraded shares of Schlumberger from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Barclays dropped their price objective on shares of Schlumberger from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $24.87.

In related news, Director Vijay Kasibhatla purchased 2,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was acquired at an average price of $17.05 per share, with a total value of $34,100.00. Following the completion of the acquisition, the director now owns 29,362 shares in the company, valued at approximately $500,622.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick Schorn sold 34,468 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $17.83, for a total transaction of $614,564.44. Following the completion of the transaction, the executive vice president now directly owns 80,000 shares of the company’s stock, valued at approximately $1,426,400. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Shares of SLB opened at $17.58 on Friday. The company has a market cap of $24.69 billion, a price-to-earnings ratio of -1.36, a price-to-earnings-growth ratio of 18.39 and a beta of 2.09. Schlumberger Limited. has a twelve month low of $11.87 and a twelve month high of $41.40. The company has a quick ratio of 0.91, a current ratio of 1.23 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average of $16.08 and a two-hundred day moving average of $28.53.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, April 17th. The oil and gas company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The company had revenue of $7.46 billion during the quarter, compared to the consensus estimate of $7.52 billion. Schlumberger had a negative net margin of 55.19% and a positive return on equity of 7.88%. Schlumberger’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. On average, sell-side analysts expect that Schlumberger Limited. will post 0.15 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.84%. Schlumberger’s dividend payout ratio is currently 136.05%.

Schlumberger Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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