SLB Limited $SLB Stock Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG trimmed its holdings in shares of SLB Limited (NYSE:SLB) by 22.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,406,127 shares of the oil and gas company’s stock after selling 402,960 shares during the period. SLB makes up approximately 1.3% of Bank Pictet & Cie Europe AG’s investment portfolio, making the stock its 21st largest holding. Bank Pictet & Cie Europe AG owned 0.09% of SLB worth $68,507,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Pictet & Cie SA grew its position in SLB by 5.0% in the 3rd quarter. Banque Pictet & Cie SA now owns 622,963 shares of the oil and gas company’s stock valued at $30,351,000 after buying an additional 29,768 shares in the last quarter. V Square Quantitative Management LLC increased its stake in SLB by 4.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 29,465 shares of the oil and gas company’s stock valued at $1,436,000 after buying an additional 1,345 shares during the period. Fortitude Advisory Group L.L.C. increased its stake in SLB by 1.7% during the 3rd quarter. Fortitude Advisory Group L.L.C. now owns 22,264 shares of the oil and gas company’s stock valued at $1,085,000 after buying an additional 378 shares during the period. Vertrix Wealth Management LLC acquired a new position in SLB during the 3rd quarter valued at about $2,917,000. Finally, QRG Capital Management Inc. raised its position in shares of SLB by 29.5% during the 2nd quarter. QRG Capital Management Inc. now owns 149,030 shares of the oil and gas company’s stock worth $6,928,000 after buying an additional 33,951 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of SLB from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday. Raymond James Financial lowered their price objective on shares of SLB from $62.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. Rothschild & Co Redburn raised their price objective on shares of SLB from $66.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, September 25th. Morgan Stanley boosted their target price on SLB from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. upped their target price on SLB from $61.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Twenty-four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.27.

SLB Price Performance

Shares of NYSE SLB traded up $0.69 during midday trading on Tuesday, reaching $49.78. The company’s stock had a trading volume of 4,665,294 shares, compared to its average volume of 15,836,451. SLB Limited has a one year low of $33.12 and a one year high of $60.46. The company has a market cap of $73.88 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 2.72 and a beta of 0.83. The company has a 50 day moving average price of $52.74 and a 200 day moving average price of $52.14. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB) last issued its earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.67 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. On average, equities research analysts expect that SLB Limited will post 2.48 EPS for the current year.

SLB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Wednesday, September 2nd were paid a dividend of $0.2950 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.4%. SLB’s dividend payout ratio (DPR) is currently 57.00%.

SLB Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.