BI Asset Management Fondsmaeglerselskab A S Decreases Stock Position in Schlumberger Limited (NYSE:SLB)

BI Asset Management Fondsmaeglerselskab A S cut its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 38.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,053 shares of the oil and gas company's stock after selling 34,369 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Schlumberger were worth $2,072,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. YANKCOM Partnership bought a new position in Schlumberger during the 4th quarter valued at $31,000. Stonebridge Financial Group LLC bought a new stake in Schlumberger in the 4th quarter worth about $32,000. Golden State Wealth Management LLC purchased a new stake in Schlumberger in the 4th quarter valued at about $34,000. Hager Investment Management Services LLC bought a new position in shares of Schlumberger during the 4th quarter worth approximately $38,000. Finally, Bogart Wealth LLC grew its holdings in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 844 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Schlumberger

In other news, insider Bejar Carmen Rando sold 5,524 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares of the company's stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the sale, the insider now directly owns 53,584 shares of the company's stock, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,647 shares of company stock worth $4,876,679. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SLB. BMO Capital Markets cut their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. TD Cowen lifted their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Wells Fargo & Company raised shares of Schlumberger from an "equal weight" rating to an "overweight" rating and lowered their price target for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. Stifel Nicolaus reduced their price objective on Schlumberger from $59.00 to $58.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Barclays lowered their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.85.

Schlumberger Price Performance

Shares of SLB stock traded down $0.40 during trading hours on Friday, hitting $34.53. 23,935,960 shares of the company's stock were exchanged, compared to its average volume of 13,192,144. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The company has a market capitalization of $46.96 billion, a PE ratio of 11.10, a PEG ratio of 10.10 and a beta of 1.11. The business's 50 day simple moving average is $38.61 and its 200-day simple moving average is $40.42. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period last year, the business posted $0.75 earnings per share. On average, equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

About Schlumberger

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.