BI Asset Management Fondsmaeglerselskab A S Lowers Stock Holdings in Schlumberger Limited (NYSE:SLB)

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 38.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,053 shares of the oil and gas company’s stock after selling 34,369 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Schlumberger were worth $2,072,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. YANKCOM Partnership purchased a new position in Schlumberger during the fourth quarter worth about $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger during the fourth quarter worth $32,000. Golden State Wealth Management LLC purchased a new position in Schlumberger in the fourth quarter worth $34,000. Hager Investment Management Services LLC acquired a new stake in Schlumberger in the fourth quarter valued at $38,000. Finally, Bogart Wealth LLC grew its stake in shares of Schlumberger by 468.9% during the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

SLB opened at $34.62 on Tuesday. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company’s 50 day simple moving average is $39.21 and its 200 day simple moving average is $40.65. The stock has a market capitalization of $47.08 billion, a PE ratio of 11.13, a P/E/G ratio of 10.10 and a beta of 1.11.

Insider Buying and Selling at Schlumberger

In related news, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares in the company, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now owns 31,031 shares of the company’s stock, valued at approximately $1,311,990.68. This represents a 44.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,647 shares of company stock valued at $4,876,679. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on SLB shares. Jefferies Financial Group decreased their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. BMO Capital Markets dropped their price objective on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. JPMorgan Chase & Co. boosted their target price on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus lowered their price objective on shares of Schlumberger from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Five research 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. Based on data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $54.15.

About Schlumberger

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.