Schlumberger Limited (NYSE:SLB) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lowered its holdings in Schlumberger Limited (NYSE:SLB) by 5.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 16,807 shares of the oil and gas company’s stock after selling 911 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Schlumberger were worth $875,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. First American Trust FSB boosted its stake in shares of Schlumberger by 1.4% during the 4th quarter. First American Trust FSB now owns 157,006 shares of the oil and gas company’s stock worth $8,171,000 after acquiring an additional 2,148 shares in the last quarter. LifePlan Financial LLC acquired a new stake in Schlumberger in the fourth quarter valued at $1,067,000. Emfo LLC grew its holdings in Schlumberger by 80.0% in the fourth quarter. Emfo LLC now owns 4,500 shares of the oil and gas company’s stock valued at $234,000 after purchasing an additional 2,000 shares during the last quarter. B&D White Capital Company LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at $213,000. Finally, Bison Wealth LLC raised its stake in shares of Schlumberger by 26.1% during the 4th quarter. Bison Wealth LLC now owns 4,336 shares of the oil and gas company’s stock worth $226,000 after buying an additional 897 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SLB shares. Stifel Nicolaus increased their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Susquehanna reiterated a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research report on Monday, April 8th. Bank of America lifted their price objective on Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday. Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Wednesday, April 3rd. Finally, HSBC restated a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a research report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average price target of $70.31.

Schlumberger Price Performance

SLB opened at $50.81 on Thursday. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12. The company’s 50 day simple moving average is $51.50 and its 200 day simple moving average is $52.50. The stock has a market capitalization of $72.53 billion, a PE ratio of 17.40, a P/E/G ratio of 0.98 and a beta of 1.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $8.99 billion for the quarter, compared to the consensus estimate of $8.96 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $0.71 EPS. As a group, sell-side analysts expect that Schlumberger Limited will post 3.52 EPS for the current year.

Insider Activity

In related news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,191 shares of company stock valued at $8,636,322. Company insiders own 0.26% of the company’s stock.

Schlumberger 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.