Mengis Capital Management Inc. Increases Stock Holdings in Schlumberger Limited (NYSE:SLB)

Mengis Capital Management Inc. grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 20.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,975 shares of the oil and gas company’s stock after purchasing an additional 17,786 shares during the period. Mengis Capital Management Inc.’s holdings in Schlumberger were worth $3,948,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. CX Institutional increased its stake in Schlumberger by 2.4% during the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after buying an additional 244 shares during the period. GM Advisory Group LLC increased its position in shares of Schlumberger by 3.8% during the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after acquiring an additional 247 shares during the period. TCW Group Inc. raised its stake in shares of Schlumberger by 1.3% in the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after acquiring an additional 259 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock valued at $2,174,000 after purchasing an additional 262 shares during the period. Finally, Cordatus Wealth Management LLC grew its stake in Schlumberger by 2.1% during the 3rd quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock worth $561,000 after purchasing an additional 281 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In related news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the transaction, the executive vice president now owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. The trade was a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock valued at $11,442,229 in the last ninety days. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

SLB stock opened at $41.51 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $56.45 billion, a P/E ratio of 13.35, a PEG ratio of 10.10 and a beta of 1.51. The business has a 50 day simple moving average of $40.23 and a 200-day simple moving average of $41.87. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. As a group, equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.75%. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is 36.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SLB shares. TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their target price on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Finally, Jefferies Financial Group lowered their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

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.