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

Bank Pictet & Cie Europe AG trimmed its position in SLB Limited (NYSE:SLB) by 22.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,406,127 shares of the oil and gas company’s stock after selling 402,960 shares during the quarter. SLB makes up approximately 1.3% of Bank Pictet & Cie Europe AG’s portfolio, making the stock its 21st largest position. Bank Pictet & Cie Europe AG’s holdings in SLB were worth $68,507,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Banque Pictet & Cie SA increased its stake 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 during the period. V Square Quantitative Management LLC lifted its position in SLB by 4.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 29,465 shares of the oil and gas company’s stock worth $1,436,000 after buying an additional 1,345 shares in the last quarter. Fortitude Advisory Group L.L.C. boosted its stake in shares of 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 stake in shares of SLB during the 3rd quarter valued at $2,917,000. Finally, QRG Capital Management Inc. grew its holdings 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 valued at $6,928,000 after acquiring an additional 33,951 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SLB shares. Rothschild & Co Redburn upped their price target on shares of SLB from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, September 25th. JPMorgan Chase & Co. lifted their price objective on SLB from $61.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Jefferies Financial Group restated a “buy” rating and issued a $66.00 target price (up from $65.00) on shares of SLB in a research note on Sunday, July 26th. Weiss Ratings restated a “hold (c)” rating on shares of SLB in a research note on Monday, August 3rd. Finally, Wolfe Research started coverage on SLB in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 target price on the stock. Twenty-four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.27.

SLB Stock Performance

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

SLB (NYSE:SLB) last released 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 business had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.67 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%. 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 business earned $0.74 earnings per share. As a group, sell-side analysts anticipate that SLB Limited will post 2.48 EPS for the current year.

SLB Announces Dividend

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