Bank Pictet & Cie Europe AG Boosts Stock Holdings in Schlumberger Limited (NYSE:SLB)

Bank Pictet & Cie Europe AG raised its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,029 shares of the oil and gas company's stock after buying an additional 15,680 shares during the period. Bank Pictet & Cie Europe AG's holdings in Schlumberger were worth $3,053,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SLB. Trust Co. of Toledo NA OH grew its stake in shares of Schlumberger by 2.6% in the first quarter. Trust Co. of Toledo NA OH now owns 69,550 shares of the oil and gas company's stock worth $2,907,000 after purchasing an additional 1,792 shares during the last quarter. Fairvoy Private Wealth LLC bought a new stake in shares of Schlumberger in the first quarter worth about $2,478,000. Exchange Traded Concepts LLC grew its stake in shares of Schlumberger by 594.7% in the first quarter. Exchange Traded Concepts LLC now owns 87,257 shares of the oil and gas company's stock worth $3,647,000 after purchasing an additional 74,696 shares during the last quarter. Sound Income Strategies LLC grew its stake 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 purchasing an additional 698 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC grew its stake in shares of Schlumberger by 10.5% in the first quarter. Foster Victor Wealth Advisors LLC now owns 6,160 shares of the oil and gas company's stock worth $257,000 after purchasing an additional 584 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, June 5th. Piper Sandler cut their target price on Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Jefferies Financial Group cut 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. Susquehanna decreased their target price on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Monday, April 28th. Finally, Morgan Stanley lowered their target price on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.38.

Insider Activity at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction 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 completion of the sale, the director now owns 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction 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 of the company's stock, 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. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Up 1.9%

SLB stock opened at $36.31 on Monday. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm has a market cap 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. The business has a 50 day moving average of $34.36 and a 200 day moving average of $38.31.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period last year, the business earned $0.75 EPS. The firm's quarterly revenue was down 2.5% on a year-over-year basis. On average, research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

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.

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