Pictet Asset Management Holding SA Increases Stake in Schlumberger Limited (NYSE:SLB)

Pictet Asset Management Holding SA boosted its stake in Schlumberger Limited (NYSE:SLB) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,142,540 shares of the oil and gas company’s stock after purchasing an additional 20,392 shares during the quarter. Pictet Asset Management Holding SA owned about 0.08% of Schlumberger worth $43,805,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. YANKCOM Partnership acquired a new stake in shares of Schlumberger during the 4th quarter worth $31,000. Stonebridge Financial Group LLC acquired a new stake in Schlumberger during the fourth quarter worth about $32,000. Golden State Wealth Management LLC purchased a new position in shares of Schlumberger in the 4th quarter worth about $34,000. Hager Investment Management Services LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at about $38,000. Finally, Bogart Wealth LLC grew its holdings in shares of Schlumberger by 468.9% during the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Evercore ISI restated an “in-line” rating and set a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Jefferies Financial Group reduced their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.69.

Schlumberger Stock Performance

Shares of SLB stock opened at $41.87 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a market capitalization of $56.93 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.65. The company’s 50-day simple moving average is $41.29 and its 200-day simple moving average is $41.47.

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

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.72%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is 36.66%.

Insider Transactions at Schlumberger

In related news, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. The trade was a 33.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the stock in a transaction 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 sale, the insider now directly owns 53,584 shares in the company, valued at $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. In the last three months, insiders have sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is currently owned by insiders.

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.