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

Bank Pictet & Cie Europe AG boosted its position in SLB Limited (NYSE:SLB) by 1,937.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 996,948 shares of the oil and gas company’s stock after purchasing an additional 948,015 shares during the quarter. Bank Pictet & Cie Europe AG owned about 0.07% of SLB worth $34,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SLB. Vanguard Group Inc. increased its stake in shares of SLB by 14.2% in the second quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company’s stock valued at $5,080,734,000 after purchasing an additional 18,672,021 shares during the period. Norges Bank bought a new stake in SLB during the 2nd quarter valued at $618,697,000. Franklin Resources Inc. boosted its position in SLB by 30.4% during the 2nd quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock worth $683,901,000 after acquiring an additional 4,719,852 shares during the period. Lazard Asset Management LLC grew its stake in shares of SLB by 80.7% in the second quarter. Lazard Asset Management LLC now owns 6,788,978 shares of the oil and gas company’s stock worth $229,466,000 after purchasing an additional 3,031,906 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of SLB by 346.3% during the third quarter. Assenagon Asset Management S.A. now owns 3,876,526 shares of the oil and gas company’s stock valued at $133,236,000 after purchasing an additional 3,007,911 shares during the period. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SLB. Redburn Partners set a $48.00 price objective on shares of SLB in a report on Monday, November 3rd. Barclays decreased their price objective on shares of SLB from $48.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Sanford C. Bernstein boosted their target price on SLB from $47.60 to $52.30 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Rothschild & Co Redburn initiated coverage on SLB in a research note on Monday, November 3rd. They set a “buy” rating and a $48.00 price target for the company. Finally, UBS Group lifted their price target on SLB from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.42.

SLB Stock Performance

Shares of NYSE SLB opened at $38.38 on Friday. The stock’s fifty day simple moving average is $37.20 and its 200 day simple moving average is $35.51. The stock has a market capitalization of $57.34 billion, a price-to-earnings ratio of 14.82 and a beta of 0.72. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. SLB Limited has a 52-week low of $31.11 and a 52-week high of $44.66.

SLB (NYSE:SLB) last released its quarterly earnings results on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.99 billion. SLB had a return on equity of 18.97% and a net margin of 10.34%.SLB’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.89 EPS. As a group, sell-side analysts forecast that SLB Limited will post 3.38 earnings per share for the current fiscal year.

SLB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, December 3rd. SLB’s dividend payout ratio (DPR) is 44.02%.

Insider Activity at SLB

In related news, CFO Stephane Biguet sold 38,447 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $36.75, for a total value of $1,412,927.25. Following the completion of the sale, the chief financial officer owned 175,690 shares in the company, valued at approximately $6,456,607.50. This represents a 17.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter John Coleman sold 5,500 shares of SLB stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total transaction of $197,010.00. Following the transaction, the director owned 18,671 shares in the company, valued at approximately $668,795.22. The trade was a 22.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 103,947 shares of company stock worth $3,871,337. 0.22% of the stock is owned by corporate insiders.

About SLB

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.