Bank Pictet & Cie Europe AG Reduces Stock Position in Schlumberger Limited $SLB

Bank Pictet & Cie Europe AG cut its stake in Schlumberger Limited (NYSE:SLB) by 33.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,933 shares of the oil and gas company’s stock after selling 24,096 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Schlumberger were worth $1,654,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Old North State Wealth Management LLC lifted its holdings in Schlumberger by 24.1% during the 2nd quarter. Old North State Wealth Management LLC now owns 9,204 shares of the oil and gas company’s stock worth $311,000 after purchasing an additional 1,785 shares in the last quarter. Norden Group LLC bought a new stake in shares of Schlumberger during the second quarter valued at about $203,000. CHICAGO TRUST Co NA lifted its holdings in shares of Schlumberger by 5.1% in the second quarter. CHICAGO TRUST Co NA now owns 43,126 shares of the oil and gas company’s stock worth $1,458,000 after buying an additional 2,079 shares in the last quarter. Farmers Trust Co. boosted its position in shares of Schlumberger by 0.7% in the second quarter. Farmers Trust Co. now owns 95,678 shares of the oil and gas company’s stock valued at $3,234,000 after acquiring an additional 683 shares during the period. Finally, Ridgewood Investments LLC bought a new position in shares of Schlumberger in the second quarter valued at approximately $801,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Price Performance

SLB opened at $34.57 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $51.63 billion, a P/E ratio of 11.84, a PEG ratio of 9.61 and a beta of 1.05. The stock has a 50-day moving average price of $34.60 and a 200-day moving average price of $35.43. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.Schlumberger’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. Equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.3%. Schlumberger’s dividend payout ratio is 39.04%.

Insider Activity at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Stifel Nicolaus cut their price target on shares of Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Jefferies Financial Group lowered their price objective on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Susquehanna reduced their target price on Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a research report on Monday, July 21st. Wells Fargo & Company lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Atb Cap Markets upgraded Schlumberger from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.18.

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.