Bank Pictet & Cie Europe AG Has $2.20 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Bank Pictet & Cie Europe AG trimmed its position in Schlumberger Limited (NYSE:SLB - Free Report) by 37.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,349 shares of the oil and gas company's stock after selling 33,956 shares during the quarter. 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 large investors also recently modified their holdings of SLB. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger during the 3rd quarter valued at about $29,000. YANKCOM Partnership purchased a new stake in shares of Schlumberger during the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at about $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at about $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger during the 3rd quarter valued at about $37,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Bejar Carmen Rando sold 5,524 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the sale, the insider now owns 30,829 shares of the company's stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 263,782 shares of company stock worth $11,442,229. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Performance

NYSE:SLB traded up $0.88 during midday trading on Tuesday, reaching $42.63. 14,315,162 shares of the company traded hands, compared to its average volume of 14,351,925. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The firm has a market capitalization of $59.71 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a fifty day moving average price of $40.09 and a 200 day moving average price of $41.93.

Schlumberger (NYSE:SLB - Get Free Report) last announced 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 return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm's quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal 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. This represents a $1.14 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio is 36.66%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citigroup raised their target price on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Jefferies Financial Group dropped their price objective on Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company dropped their price objective on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They set a "neutral" rating and a $47.00 price objective on the stock. Finally, Barclays dropped their price objective on Schlumberger from $61.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $55.81.

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.