Banque Pictet & Cie SA Reduces Stake in Schlumberger Limited (NYSE:SLB)

Banque Pictet & Cie SA lowered its position in Schlumberger Limited (NYSE:SLB - Free Report) by 28.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 192,699 shares of the oil and gas company's stock after selling 76,182 shares during the period. Banque Pictet & Cie SA's holdings in Schlumberger were worth $8,055,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in Schlumberger in the first quarter valued at about $34,000. True Wealth Design LLC raised its stake in Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after buying an additional 842 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Schlumberger in the fourth quarter valued at about $40,000. Sound Income Strategies LLC raised its stake in Schlumberger by 265.4% in the first quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock valued at $40,000 after buying an additional 698 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Schlumberger in the first quarter valued at about $44,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

Shares of NYSE:SLB traded up $0.49 during midday trading on Thursday, reaching $36.74. 5,793,853 shares of the company's stock traded hands, compared to its average volume of 13,802,784. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The company has a market cap of $49.97 billion, a P/E ratio of 12.45, a PEG ratio of 9.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The company has a fifty day simple moving average of $34.66 and a two-hundred day simple moving average of $37.64.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter last year, the firm posted $0.75 earnings per share. Schlumberger's quarterly revenue was down 2.5% on a year-over-year basis. Equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.10%. Schlumberger's dividend payout ratio (DPR) is currently 38.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SLB shares. Stifel Nicolaus dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. reduced their price target on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Morgan Stanley reduced their price target on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Wells Fargo & Company lowered 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. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $50.79.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director directly owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.26% of the company's stock.

About Schlumberger

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.