Guggenheim Capital LLC Sells 10,808 Shares of Schlumberger Limited (NYSE:SLB)

Guggenheim Capital LLC decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,616 shares of the oil and gas company’s stock after selling 10,808 shares during the period. Guggenheim Capital LLC’s holdings in Schlumberger were worth $4,624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in Schlumberger in the fourth quarter valued at $735,398,000. Pacer Advisors Inc. lifted its position in shares of Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after purchasing an additional 12,938,082 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Schlumberger by 43,028.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company’s stock valued at $101,708,000 after purchasing an additional 2,646,653 shares in the last quarter. Franklin Resources Inc. raised its stake in Schlumberger by 12.4% in the fourth quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company’s stock worth $590,320,000 after buying an additional 1,700,203 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Schlumberger by 196.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,304 shares of the oil and gas company’s stock worth $88,654,000 after buying an additional 1,533,366 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 2.8 %

Shares of NYSE:SLB opened at $35.09 on Friday. 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 Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The company 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 stock’s fifty day moving average price is $39.35 and its 200-day moving average price is $40.77.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SLB shares. TD Cowen upped their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Wells Fargo & Company upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $46.00 to $44.00 in a report on Tuesday, April 8th. Barclays decreased their price target 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.15.

Insider Activity at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares of the company’s stock, valued at approximately $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now directly owns 49,595 shares of the company’s stock, 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 a total of 315,905 shares of company stock worth $13,609,283 over the last quarter. Company 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.