Voya Investment Management LLC Sells 547,190 Shares of Schlumberger Limited (NYSE:SLB)

Voya Investment Management LLC trimmed its position in Schlumberger Limited (NYSE:SLB) by 25.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,591,369 shares of the oil and gas company’s stock after selling 547,190 shares during the period. Voya Investment Management LLC’s holdings in Schlumberger were worth $61,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB raised its holdings in shares of Schlumberger by 27.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after purchasing an additional 16,350 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Schlumberger by 32.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company’s stock worth $2,737,000 after acquiring an additional 17,405 shares during the period. Geode Capital Management LLC grew its holdings in Schlumberger by 4.8% during the 4th 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 in the last quarter. Bryn Mawr Capital Management LLC increased its holdings in Schlumberger by 502.6% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock worth $7,592,000 after acquiring an additional 165,162 shares during the period. Finally, Narwhal Capital Management boosted its holdings in Schlumberger by 225.5% in the 4th quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company’s stock valued at $2,862,000 after purchasing an additional 51,715 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

SLB opened at $34.53 on Friday. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The company has a market cap of $46.96 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 10.10 and a beta of 1.11. 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’s 50 day moving average is $38.61 and its 200 day moving average is $40.42.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. During the same period in the prior year, the business posted $0.75 earnings per share. On average, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SLB. Wells Fargo & Company raised Schlumberger from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. Susquehanna reduced their target price on Schlumberger from $55.00 to $48.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. lifted their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Finally, BMO Capital Markets cut their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $53.85.

Insider Transactions at Schlumberger

In related news, 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 completion of the sale, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. 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 over the last three months. Corporate insiders own 0.26% of the company’s stock.

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.