Bank Pictet & Cie Europe AG Purchases 15,680 Shares of Schlumberger Limited (NYSE:SLB)

Bank Pictet & Cie Europe AG increased its position in Schlumberger Limited (NYSE:SLB) by 27.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 73,029 shares of the oil and gas company’s stock after acquiring an additional 15,680 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Schlumberger were worth $3,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Sound Income Strategies LLC grew its holdings in shares of Schlumberger by 265.4% in the first quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 698 shares during the period. True Wealth Design LLC grew its holdings in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 842 shares during the period. Bogart Wealth LLC grew its holdings in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 844 shares during the period. Mpwm Advisory Solutions LLC bought a new stake in shares of Schlumberger in the fourth quarter worth $40,000. Finally, J.Safra Asset Management Corp bought a new stake in shares of Schlumberger in the fourth quarter worth $46,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 1.9%

Shares of SLB opened at $36.31 on Monday. The business’s 50 day moving average is $34.36 and its 200 day moving average is $38.31. The company has a market capitalization of $49.38 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 10.10 and a beta of 1.01. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.75 EPS. Research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger’s payout ratio is 38.64%.

Insiders Place Their Bets

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director now owns 23,525 shares of the company’s stock, valued at $789,969.50. The trade was a 17.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of several analyst reports. Susquehanna lowered their target price on Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Monday, April 28th. Jefferies Financial Group lowered their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Wells Fargo & Company lowered their price objective on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, June 5th. Morgan Stanley lowered their price objective on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Finally, Barclays lowered their price objective on Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $52.38.

Schlumberger 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.