Bank Pictet & Cie Europe AG Sells 33,956 Shares of Schlumberger Limited (NYSE:SLB)

Bank Pictet & Cie Europe AG cut its stake in Schlumberger Limited (NYSE:SLB) by 37.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,349 shares of the oil and gas company’s stock after selling 33,956 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Schlumberger were worth $2,199,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. CX Institutional grew its holdings in shares of Schlumberger by 2.4% in the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after purchasing an additional 244 shares during the last quarter. GM Advisory Group LLC grew its holdings in shares of Schlumberger by 3.8% in the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after purchasing an additional 247 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after purchasing an additional 262 shares during the last quarter. Cordatus Wealth Management LLC grew its holdings in Schlumberger by 2.1% during the 3rd quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock worth $561,000 after acquiring an additional 281 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its holdings in Schlumberger by 0.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock worth $1,708,000 after acquiring an additional 284 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the sale, the executive vice president now owns 210,502 shares of the company’s stock, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction on Friday, January 31st. The shares were 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 directly owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,782 shares of company stock valued at $11,442,229. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SLB. Barclays dropped their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Stifel Nicolaus dropped their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. TD Cowen increased their target price on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Citigroup increased their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company decreased their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Performance

SLB opened at $41.75 on Friday. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. 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 firm has a market capitalization of $58.48 billion, a PE ratio of 13.42, a P/E/G ratio of 9.49 and a beta of 1.51. The firm has a 50 day moving average of $40.06 and a two-hundred day moving average of $42.09.

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

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.73%. Schlumberger’s dividend payout ratio (DPR) 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.