Bridgewater Associates LP Sells 768,522 Shares of Schlumberger Limited (NYSE:SLB)

Bridgewater Associates LP cut its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 66.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 387,238 shares of the oil and gas company's stock after selling 768,522 shares during the quarter. Bridgewater Associates LP's holdings in Schlumberger were worth $14,847,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. YANKCOM Partnership acquired a new stake in Schlumberger in the fourth quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at about $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger during the fourth quarter worth about $34,000. Hager Investment Management Services LLC acquired a new position in Schlumberger in the fourth quarter worth about $38,000. Finally, Bogart Wealth LLC increased its holdings in 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 buying an additional 844 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Schlumberger

In other news, insider Bejar Carmen Rando sold 5,524 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were 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. This trade represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 315,905 shares of company stock worth $13,609,283. Company insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Evercore ISI reissued an "in-line" rating and issued a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Griffin Securities lowered shares of Schlumberger from a "buy" rating to a "neutral" rating in a research report on Friday, December 20th. 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 target price for the company. Finally, Barclays cut their price target on Schlumberger from $54.00 to $53.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and a consensus price target of $54.15.

Schlumberger Stock Performance

Shares of SLB stock traded up $0.94 during trading on Friday, reaching $35.09. 15,915,644 shares of the company's stock were exchanged, compared to its average volume of 13,076,236. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm's fifty day moving average price is $39.35 and its 200-day moving average price is $40.77. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The stock has a market capitalization of $47.72 billion, a PE ratio of 11.28, a PEG ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the prior year, the business earned $0.86 EPS. Schlumberger's quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS 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.