Capital Group Private Client Services Inc. Sells 1,580 Shares of Schlumberger Limited (NYSE:SLB)

Capital Group Private Client Services Inc. trimmed its stake in Schlumberger Limited (NYSE:SLB) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,318 shares of the oil and gas company’s stock after selling 1,580 shares during the period. Capital Group Private Client Services Inc.’s holdings in Schlumberger were worth $1,354,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. CX Institutional lifted its position in shares of Schlumberger by 2.4% during the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after buying an additional 244 shares during the last quarter. TCW Group Inc. lifted its position in Schlumberger by 1.3% during the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after acquiring an additional 259 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock valued at $2,174,000 after acquiring an additional 262 shares in the last quarter. Cromwell Holdings LLC grew its holdings in Schlumberger by 7.0% in the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after purchasing an additional 283 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of Schlumberger by 2.0% during the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,775 shares of the oil and gas company’s stock worth $566,000 after purchasing an additional 293 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Up 2.8 %

SLB stock opened at $35.09 on Friday. 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 firm has a market cap of $47.72 billion, a P/E ratio of 11.28, a PEG ratio of 10.10 and a beta of 1.11. The company’s 50-day simple moving average is $39.35 and its 200-day simple moving average is $40.77.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 earnings per share. As a group, equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on SLB. TD Cowen boosted their target price 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 cut their price objective on shares of Schlumberger from $59.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Susquehanna cut their price target on shares of Schlumberger from $55.00 to $48.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Finally, Barclays lowered their price objective on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.15.

Insider Activity

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the 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 completion of the transaction, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 315,905 shares of company stock worth $13,609,283 in the last quarter. Corporate insiders own 0.26% of the company’s stock.

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.