Schlumberger Limited (NYSE:SLB) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lowered its stake in Schlumberger Limited (NYSE:SLB) by 37.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 57,349 shares of the oil and gas company’s stock after selling 33,956 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Schlumberger were worth $2,199,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SLB. Prospera Private Wealth LLC acquired a new stake in Schlumberger during the 3rd quarter worth $29,000. YANKCOM Partnership acquired a new stake in Schlumberger during the 4th quarter worth $31,000. Stonebridge Financial Group LLC acquired a new stake in Schlumberger during the 4th quarter worth $32,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger during the 3rd quarter worth $37,000. Finally, Golden State Wealth Management LLC acquired a new stake in Schlumberger during the 4th quarter worth $34,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the transaction, the director now directly owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock valued at $11,442,229 in the last three months. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SLB shares. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. TD Cowen lifted their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Performance

NYSE SLB opened at $41.75 on Friday. The company has a market cap of $58.48 billion, a P/E ratio of 13.42, a P/E/G ratio of 9.49 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock has a 50-day moving average of $40.06 and a two-hundred day moving average of $42.09. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS. As a group, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is currently 36.66%.

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.