Banque Pictet & Cie SA decreased its stake in Schlumberger Limited. (NYSE:SLB) by 28.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260,617 shares of the oil and gas company’s stock after selling 103,360 shares during the period. Banque Pictet & Cie SA’s holdings in Schlumberger were worth $9,403,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. grew its holdings in shares of Schlumberger by 7.0% in the second quarter. Advisors Asset Management Inc. now owns 96,079 shares of the oil and gas company’s stock valued at $6,440,000 after acquiring an additional 6,268 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Schlumberger by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock valued at $1,974,805,000 after acquiring an additional 2,188,823 shares in the last quarter. First Manhattan Co. grew its holdings in shares of Schlumberger by 551.9% in the third quarter. First Manhattan Co. now owns 124,291 shares of the oil and gas company’s stock valued at $7,571,000 after acquiring an additional 105,225 shares in the last quarter. First Hawaiian Bank bought a new position in shares of Schlumberger in the third quarter valued at approximately $1,712,000. Finally, First American Bank bought a new position in shares of Schlumberger in the third quarter valued at approximately $1,931,000. Institutional investors and hedge funds own 77.07% of the company’s stock.
Several research firms have recently issued reports on SLB. HSBC raised Schlumberger from a “hold” rating to a “buy” rating in a report on Sunday, December 2nd. Credit Suisse Group reduced their target price on Schlumberger from $82.00 to $71.00 and set an “outperform” rating for the company in a report on Monday, October 22nd. UBS Group reduced their target price on Schlumberger from $92.00 to $75.00 and set a “buy” rating for the company in a report on Monday, October 22nd. Barclays set a $58.00 target price on Schlumberger and gave the company a “hold” rating in a report on Monday, December 10th. Finally, Citigroup reduced their target price on Schlumberger from $57.00 to $54.00 and set a “buy” rating for the company in a report on Friday, January 4th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $66.65.
In related news, EVP Patrick Schorn bought 10,000 shares of the company’s stock in a transaction on Thursday, December 20th. The shares were purchased at an average price of $37.55 per share, for a total transaction of $375,500.00. Following the completion of the transaction, the executive vice president now directly owns 35,000 shares in the company, valued at approximately $1,314,250. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Peuch Olivier Le sold 15,000 shares of the stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $44.00, for a total value of $660,000.00. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.
Shares of NYSE SLB opened at $44.42 on Thursday. Schlumberger Limited. has a 1-year low of $34.99 and a 1-year high of $75.43. The firm has a market cap of $58.83 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 2.31 and a beta of 1.36. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 0.87.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 18th. The oil and gas company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The business had revenue of $8.18 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same period in the prior year, the company earned $0.48 earnings per share. Schlumberger’s revenue was up .0% compared to the same quarter last year. Analysts anticipate that Schlumberger Limited. will post 1.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Wednesday, February 13th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.50%. The ex-dividend date is Tuesday, February 12th. Schlumberger’s dividend payout ratio (DPR) is 123.46%.
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
Further Reading: SEC Filing
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