Mengis Capital Management Inc. Acquires 22,332 Shares of Schlumberger Limited (NYSE:SLB)

Mengis Capital Management Inc. grew its position in Schlumberger Limited (NYSE:SLB) by 35.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,189 shares of the oil and gas company’s stock after purchasing an additional 22,332 shares during the period. Mengis Capital Management Inc.’s holdings in Schlumberger were worth $3,574,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SLB. Bruce G. Allen Investments LLC boosted its stake in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares in the last quarter. ORG Partners LLC increased its position in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares in the last quarter. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger in the second quarter worth about $30,000. Riverview Trust Co lifted its position in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares in the last quarter. Finally, First Community Trust NA grew its stake in shares of Schlumberger by 264.0% during the second quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 528 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of several research analyst reports. Barclays dropped their price objective on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Dbs Bank began coverage on Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. Wells Fargo & Company dropped their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Finally, Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Up 0.1 %

NYSE:SLB opened at $44.34 on Wednesday. The stock has a market cap of $62.61 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.56 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $42.26 and a two-hundred day moving average price of $44.77. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $0.78 earnings per share. As a group, equities analysts expect that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.48%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.