Pictet North America Advisors SA Has $2 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Pictet North America Advisors SA cut its holdings in Schlumberger Limited (NYSE:SLB) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,612 shares of the oil and gas company’s stock after selling 1,665 shares during the quarter. Pictet North America Advisors SA’s holdings in Schlumberger were worth $1,997,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SLB. ORG Partners LLC raised its holdings in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the last quarter. Register Financial Advisors LLC acquired a new position in Schlumberger during the 1st quarter worth approximately $27,000. Bruce G. Allen Investments LLC grew its stake in shares of Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares in the last quarter. Unique Wealth Strategies LLC bought a new position in Schlumberger in the second quarter valued at $30,000. Finally, Manchester Capital Management LLC boosted its stake in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Performance

Shares of SLB stock opened at $41.94 on Wednesday. The company has a market capitalization of $59.54 billion, a P/E ratio of 13.48, a PEG ratio of 1.27 and a beta of 1.51. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $59.05. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The stock has a 50 day moving average price of $43.03 and a two-hundred day moving average price of $45.78.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts expect that Schlumberger Limited will post 3.44 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.62%. Schlumberger’s payout ratio is 35.37%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SLB. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Piper Sandler reduced their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Bank of America dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Morgan Stanley reduced their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.58.

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.