Canada Pension Plan Investment Board Reduces Position in Schlumberger Limited (NYSE:SLB)

Canada Pension Plan Investment Board cut its holdings in Schlumberger Limited (NYSE:SLB) by 16.5% during the 4th quarter, Holdings Channel reports. The firm owned 1,103,837 shares of the oil and gas company’s stock after selling 217,827 shares during the period. Canada Pension Plan Investment Board’s holdings in Schlumberger were worth $42,321,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SLB. YANKCOM Partnership purchased a new position in shares of Schlumberger during the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Schlumberger in the 4th quarter worth about $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger in the fourth quarter worth approximately $34,000. Hager Investment Management Services LLC purchased a new stake in Schlumberger during the 4th quarter valued at $38,000. Finally, Bogart Wealth LLC increased its holdings in Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after buying an additional 844 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the transaction, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. This trade represents a 40.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 315,905 shares of company stock valued at $13,609,283 over the last three months. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SLB. Stifel Nicolaus decreased their target price on shares of Schlumberger from $59.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday. Susquehanna lowered their price target on shares of Schlumberger from $55.00 to $48.00 and set a “positive” rating on the stock in a report on Monday, April 14th. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. TD Cowen lifted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.15.

Schlumberger Stock Up 2.8 %

NYSE:SLB opened at $35.09 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market cap of $47.72 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. The stock has a fifty day simple moving average of $39.35 and a 200-day simple moving average of $40.77. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. Analysts anticipate 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.