Bank Pictet & Cie Europe AG Sells 24,096 Shares of Schlumberger Limited $SLB

Key Points

• Bank Pictet & Cie Europe AG reduced its stake in Schlumberger Limited by 33%, selling 24,096 shares, and now holds 48,933 shares valued at approximately $1.65 million.
• Institutional investors own 81.99% of Schlumberger's stock, with several companies increasing their positions significantly in recent quarters.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, yielding 3.3%, set to be paid on October 9th.

Bank Pictet & Cie Europe AG cut its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 33.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,933 shares of the oil and gas company's stock after selling 24,096 shares during the period. Bank Pictet & Cie Europe AG's holdings in Schlumberger were worth $1,654,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. First Command Advisory Services Inc. raised its position in shares of Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after buying an additional 477 shares in the last quarter. Atticus Wealth Management LLC bought a new position in Schlumberger in the second quarter valued at approximately $29,000. Atlas Capital Advisors Inc. acquired a new position in Schlumberger during the first quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Schlumberger by 55.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company's stock valued at $33,000 after purchasing an additional 350 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new stake in Schlumberger during the first quarter worth $34,000. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider directly owned 202,201 shares of the company's stock, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is currently owned by company insiders.

Schlumberger Trading Down 0.1%

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

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same period in the prior year, the company earned $0.85 earnings per share. Schlumberger's revenue was down 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Melius Research began coverage on Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 price target for the company. Barclays lowered their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Wells Fargo & Company cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. UBS Group decreased their price target on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Finally, Stifel Nicolaus dropped their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.18.

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.