Schlumberger Limited (NYSE:SLB) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board reduced its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 16.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,103,837 shares of the oil and gas company's stock after selling 217,827 shares during the quarter. Canada Pension Plan Investment Board owned about 0.08% of Schlumberger worth $42,321,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Schlumberger by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock valued at $1,146,195,000 after buying an additional 1,377,134 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Schlumberger by 1.2% in the fourth quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company's stock worth $1,067,254,000 after purchasing an additional 343,261 shares in the last quarter. Norges Bank bought a new position in Schlumberger in the fourth quarter worth about $735,398,000. Boston Partners increased its holdings in shares of Schlumberger by 9.9% during the fourth quarter. Boston Partners now owns 15,529,159 shares of the oil and gas company's stock valued at $597,356,000 after acquiring an additional 1,405,186 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of 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 acquiring an additional 1,700,203 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Activity

In other news, insider Gavin Rennick sold 26,990 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was 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 of the company's stock, valued at $2,192,657.28. This represents a 33.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares of the company's stock, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,647 shares of company stock valued at $4,876,679 in the last 90 days. Company insiders own 0.26% of the company's stock.

Schlumberger Trading Up 2.7 %

Shares of NYSE SLB traded up $0.93 during trading on Thursday, hitting $34.96. 6,142,828 shares of the company were exchanged, compared to its average volume of 17,219,732. 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 has a fifty day moving average price of $38.91 and a 200-day moving average price of $40.56. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The firm has a market capitalization of $47.53 billion, a PE ratio of 11.24, a P/E/G ratio of 10.10 and a beta of 1.11.

Analyst Upgrades and Downgrades

SLB has been the topic of several recent analyst reports. Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and cut their price objective for the company from $46.00 to $44.00 in a report on Tuesday, April 8th. Jefferies Financial Group cut their price target 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. Royal Bank of Canada reissued an "outperform" rating and set a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Evercore ISI reissued an "in-line" rating and set a $44.00 price target (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.15.

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.