Schlumberger Limited (NYSE:SLB) Shares Purchased by Mengis Capital Management Inc.

Mengis Capital Management Inc. raised its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 35.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crescent Grove Advisors LLC acquired a new position in Schlumberger during the second quarter worth approximately $257,000. National Bank of Canada FI grew its position in shares of Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company's stock worth $21,726,000 after acquiring an additional 51,637 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company's stock valued at $89,723,000 after acquiring an additional 11,813 shares during the period. Concurrent Investment Advisors LLC raised its position in Schlumberger by 269.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company's stock valued at $827,000 after purchasing an additional 14,376 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Schlumberger by 26.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company's stock worth $12,880,000 after purchasing an additional 63,413 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Price Performance

SLB stock traded down $0.74 during midday trading on Wednesday, hitting $43.59. 9,884,475 shares of the stock were exchanged, compared to its average volume of 11,289,707. The stock's 50-day moving average price is $42.26 and its 200-day moving average price is $44.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The stock has a market cap of $61.56 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.56 and a beta of 1.52. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion during the quarter, compared to analysts' expectations of $9.27 billion. During the same quarter last year, the business posted $0.78 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger's dividend payout ratio (DPR) is presently 35.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Evercore ISI reduced their target price on shares of Schlumberger from $74.00 to $62.00 and set an "outperform" rating for the company in a report on Monday, October 21st. Stifel Nicolaus reiterated a "buy" rating and issued a $60.00 target price (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. TD Cowen cut their price target on Schlumberger from $68.00 to $65.00 and set a "buy" rating for the company in a research note on Monday, October 21st. Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, September 16th. Finally, Bank of America cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.97.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by company insiders.

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.