Desjardins Global Asset Management Inc. Sells 911 Shares of Schlumberger Limited (NYSE:SLB)

Desjardins Global Asset Management Inc. reduced its stake in Schlumberger Limited (NYSE:SLB) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,807 shares of the oil and gas company’s stock after selling 911 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Schlumberger were worth $875,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SLB. Highland Capital Management LLC raised its holdings in shares of Schlumberger by 2,494.0% in the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after purchasing an additional 97,516 shares in the last quarter. Guinness Asset Management LTD raised its stake in shares of Schlumberger by 0.3% during the 3rd quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock worth $19,468,000 after acquiring an additional 965 shares in the last quarter. Nordea Investment Management AB lifted its position in Schlumberger by 36.4% during the fourth quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock valued at $74,080,000 after acquiring an additional 380,185 shares during the last quarter. Allworth Financial LP grew its holdings in Schlumberger by 3.8% in the third quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock worth $324,000 after purchasing an additional 206 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Schlumberger by 6.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after purchasing an additional 35,763 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SLB. Susquehanna restated a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research note on Monday, April 8th. Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research note on Wednesday, April 3rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. HSBC reissued a “buy” rating and set a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Finally, Bank of America raised their target price on Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.31.

Insider Buying and Selling at Schlumberger

In other news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the 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 transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Over the last three months, 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 Stock Performance

Shares of NYSE 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 has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32. The company’s fifty day moving average price is $51.50 and its 200 day moving average price is $52.50. The company has a market capitalization of $72.53 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 0.98 and a beta of 1.60.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The business had revenue of $8.99 billion for the quarter, compared to analyst estimates of $8.96 billion. During the same period in the prior year, the company posted $0.71 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, research analysts predict that Schlumberger Limited will post 3.52 earnings per share for the current year.

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.