Banque Pictet & Cie SA lifted its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 50.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353,215 shares of the oil and gas company’s stock after purchasing an additional 118,499 shares during the period. Banque Pictet & Cie SA’s holdings in Schlumberger were worth $23,676,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of SLB. Lucia Wealth Services LLC boosted its holdings in shares of Schlumberger by 9,288.8% in the 2nd quarter. Lucia Wealth Services LLC now owns 54,643 shares of the oil and gas company’s stock valued at $3,663,000 after purchasing an additional 54,061 shares during the last quarter. WMS Partners LLC boosted its holdings in shares of Schlumberger by 38.9% in the 2nd quarter. WMS Partners LLC now owns 6,897 shares of the oil and gas company’s stock valued at $462,000 after purchasing an additional 1,933 shares during the last quarter. All Terrain Financial Advisors LLC boosted its holdings in shares of Schlumberger by 177.1% in the 2nd quarter. All Terrain Financial Advisors LLC now owns 3,129 shares of the oil and gas company’s stock valued at $210,000 after purchasing an additional 2,000 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of Schlumberger by 1.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 178,709 shares of the oil and gas company’s stock valued at $11,979,000 after purchasing an additional 1,793 shares during the last quarter. Finally, Private Capital Group LLC boosted its holdings in shares of Schlumberger by 42.7% in the 2nd quarter. Private Capital Group LLC now owns 4,503 shares of the oil and gas company’s stock valued at $303,000 after purchasing an additional 1,347 shares during the last quarter. 78.36% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on SLB. Credit Suisse Group lifted their price target on shares of Schlumberger from $80.00 to $82.00 and gave the company a “buy” rating in a report on Monday, July 23rd. Citigroup decreased their price target on shares of Schlumberger from $79.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, June 25th. ValuEngine lowered shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Jefferies Financial Group set a $80.00 price target on shares of Schlumberger and gave the company a “buy” rating in a report on Monday, July 23rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $80.00 price target on shares of Schlumberger in a report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $79.91.
NYSE:SLB opened at $64.34 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. The firm has a market cap of $89.76 billion, a P/E ratio of 42.89, a price-to-earnings-growth ratio of 5.89 and a beta of 0.97. Schlumberger Limited. has a twelve month low of $61.02 and a twelve month high of $80.35.
Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 20th. The oil and gas company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The business had revenue of $8.30 billion for the quarter, compared to analyst estimates of $8.35 billion. Schlumberger had a negative net margin of 2.34% and a positive return on equity of 6.25%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. sell-side analysts forecast that Schlumberger Limited. will post 1.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Wednesday, September 5th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $2.00 annualized dividend and a dividend yield of 3.11%. Schlumberger’s payout ratio is 133.33%.
Schlumberger Company Profile
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.
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