CANADA LIFE ASSURANCE Co Sells 681,060 Shares of Schlumberger Limited (NYSE:SLB)

CANADA LIFE ASSURANCE Co decreased its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,474,235 shares of the oil and gas company's stock after selling 681,060 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.25% of Schlumberger worth $133,184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in SLB. Norges Bank acquired a new stake in shares of Schlumberger during the fourth quarter worth approximately $735,398,000. Pacer Advisors Inc. grew its holdings in shares of Schlumberger by 12,289.6% during the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock valued at $500,082,000 after acquiring an additional 12,938,082 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Schlumberger by 43,028.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after acquiring an additional 2,646,653 shares in the last quarter. Franklin Resources Inc. boosted its position in Schlumberger by 12.4% during the fourth quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company's stock valued at $590,320,000 after purchasing an additional 1,700,203 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Schlumberger by 196.9% in the 4th 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 purchasing an additional 1,533,366 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Buying and Selling at Schlumberger

In other news, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the transaction, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. The trade was a 22.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,647 shares of company stock worth $4,876,679. Insiders own 0.26% of the company's stock.

Schlumberger Price Performance

SLB traded up $0.16 during midday trading on Tuesday, hitting $34.78. The company had a trading volume of 7,862,993 shares, compared to its average volume of 13,033,250. Schlumberger Limited has a twelve month low of $31.11 and a twelve month 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 firm's 50-day simple moving average is $39.21 and its 200-day simple moving average is $40.65. The company has a market capitalization of $47.29 billion, a PE ratio of 11.18, a P/E/G ratio of 10.10 and a beta of 1.11.

Analyst Ratings Changes

SLB has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. TD Cowen upped their price target on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Stifel Nicolaus lowered their price target on Schlumberger from $59.00 to $58.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. BMO Capital Markets lowered their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Barclays lowered their price target on Schlumberger from $54.00 to $53.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.