Forum Financial Management LP Has $731,000 Position in Schlumberger Limited (NYSE:SLB)

Forum Financial Management LP cut its stake in Schlumberger Limited (NYSE:SLB) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,073 shares of the oil and gas company’s stock after selling 344 shares during the quarter. Forum Financial Management LP’s holdings in Schlumberger were worth $731,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SLB. GeoWealth Management LLC increased its stake in Schlumberger by 106.4% in the fourth quarter. GeoWealth Management LLC now owns 9,001 shares of the oil and gas company’s stock valued at $345,000 after purchasing an additional 4,641 shares in the last quarter. Capital International Ltd. CA increased its position in shares of Schlumberger by 10.1% in the 4th quarter. Capital International Ltd. CA now owns 208,504 shares of the oil and gas company’s stock valued at $7,994,000 after buying an additional 19,089 shares in the last quarter. Cadence Bank raised its stake in Schlumberger by 17.9% during the 4th quarter. Cadence Bank now owns 172,823 shares of the oil and gas company’s stock worth $6,626,000 after buying an additional 26,272 shares during the period. Capital Group Investment Management PTE. LTD. lifted its holdings in Schlumberger by 6.6% during the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 63,795 shares of the oil and gas company’s stock worth $2,446,000 after acquiring an additional 3,950 shares in the last quarter. Finally, Capital International Investors grew its stake in Schlumberger by 1.4% in the fourth quarter. Capital International Investors now owns 6,159,708 shares of the oil and gas company’s stock valued at $236,014,000 after acquiring an additional 82,882 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction 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 sale, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dianne B. Ralston sold 43,161 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the transaction, the insider now owns 235,024 shares in the company, valued at approximately $10,331,655.04. This represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 315,905 shares of company stock worth $13,609,283. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on SLB shares. Stifel Nicolaus lowered their target price on Schlumberger from $59.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. BMO Capital Markets lowered their price objective on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Wells Fargo & Company raised shares of Schlumberger from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $46.00 to $44.00 in a research report on Tuesday, April 8th. JPMorgan Chase & Co. increased their target price on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $54.15.

Schlumberger Stock Performance

Shares of SLB stock opened at $35.09 on Friday. The company has a fifty day moving average price of $39.35 and a two-hundred day moving average price of $40.75. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The stock has a market cap of $47.72 billion, a P/E ratio of 11.28, a P/E/G ratio of 10.10 and a beta of 1.11. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

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

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.