Capital World Investors Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

Capital World Investors trimmed its position in Schlumberger Limited (NYSE:SLB - Free Report) by 5.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,577,929 shares of the oil and gas company's stock after selling 4,093,717 shares during the period. Capital World Investors owned approximately 5.04% of Schlumberger worth $2,705,957,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. YANKCOM Partnership bought a new position in shares of Schlumberger in the fourth quarter valued at $31,000. Stonebridge Financial Group LLC bought a new position in shares of Schlumberger during the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new position in shares of Schlumberger in the 4th quarter worth approximately $34,000. Hager Investment Management Services LLC bought a new position in shares of Schlumberger in the fourth quarter valued at approximately $38,000. Finally, Bogart Wealth LLC increased its position in shares of Schlumberger by 468.9% during 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 during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Price Performance

NYSE:SLB traded up $0.88 during midday trading on Thursday, hitting $34.91. The company had a trading volume of 9,130,224 shares, compared to its average volume of 17,252,900. The stock's fifty day moving average price is $38.91 and its 200-day moving average price is $40.56. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. 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 company has a market capitalization of $47.47 billion, a PE ratio of 11.23, a P/E/G ratio of 10.10 and a beta of 1.11.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and reduced their price target for the company from $46.00 to $44.00 in a research report on Tuesday, April 8th. TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Stifel Nicolaus lowered their price objective on Schlumberger from $59.00 to $58.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Citigroup increased their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Finally, BMO Capital Markets lowered their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $54.15.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction on 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 transaction, the insider now owns 53,584 shares in the company, valued at approximately $2,192,657.28. The trade was a 33.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,647 shares of company stock valued at $4,876,679. Corporate insiders own 0.26% of the company's stock.

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.