Pictet Asset Management Ltd. Reduces Position in Schlumberger N.V. (SLB)

Pictet Asset Management Ltd. lowered its position in shares of Schlumberger N.V. (NYSE:SLB) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 770,118 shares of the oil and gas company’s stock after selling 16,900 shares during the quarter. Pictet Asset Management Ltd. owned 0.06% of Schlumberger N.V. worth $53,593,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC lifted its holdings in Schlumberger N.V. by 29.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock valued at $104,000 after purchasing an additional 307 shares during the last quarter. MCF Advisors LLC lifted its holdings in Schlumberger N.V. by 130.3% during the 1st quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock valued at $126,000 after purchasing an additional 915 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Schlumberger N.V. by 18.0% during the 1st quarter. Proficio Capital Partners LLC now owns 2,035 shares of the oil and gas company’s stock valued at $145,000 after purchasing an additional 310 shares during the last quarter. Baystate Wealth Management LLC lifted its holdings in Schlumberger N.V. by 12.7% during the 2nd quarter. Baystate Wealth Management LLC now owns 2,707 shares of the oil and gas company’s stock valued at $181,000 after purchasing an additional 305 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Schlumberger N.V. by 1.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,049 shares of the oil and gas company’s stock valued at $200,000 after purchasing an additional 52 shares during the last quarter. 78.89% of the stock is owned by hedge funds and other institutional investors.

In other Schlumberger N.V. news, Director Michael E. Marks purchased 8,000 shares of Schlumberger N.V. stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $64.20 per share, with a total value of $513,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Tore I. Sandvold sold 3,500 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total value of $219,205.00. Following the transaction, the director now directly owns 1,500 shares in the company, valued at $93,945. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Shares of Schlumberger N.V. (NYSE SLB) opened at 63.37 on Friday. The stock’s 50 day moving average price is $67.09 and its 200 day moving average price is $68.25. The company has a market cap of $87.74 billion, a P/E ratio of 498.98 and a beta of 1.05. Schlumberger N.V. has a 12-month low of $61.40 and a 12-month high of $87.84.

Schlumberger N.V. (NYSE:SLB) last issued its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $7.91 billion. Schlumberger N.V. had a return on equity of 4.42% and a net margin of 1.86%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. On average, analysts forecast that Schlumberger N.V. will post $1.50 EPS for the current year.

SLB has been the topic of several recent research reports. Jefferies Group LLC set a $80.00 price objective on Schlumberger N.V. and gave the stock a “buy” rating in a research report on Friday, August 25th. BidaskClub cut Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Loop Capital lowered their price objective on Schlumberger N.V. from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday. Royal Bank Of Canada set a $86.00 price objective on Schlumberger N.V. and gave the stock a “buy” rating in a research report on Saturday, October 7th. Finally, Scotiabank set a $80.00 price target on Schlumberger N.V. and gave the stock a “buy” rating in a research report on Saturday, October 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. Schlumberger N.V. presently has a consensus rating of “Buy” and an average target price of $80.08.

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Schlumberger N.V. Company Profile

Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.

Institutional Ownership by Quarter for Schlumberger N.V. (NYSE:SLB)

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