Mengis Capital Management Inc. Has $3.82 Million Position in Schlumberger Limited (NYSE:SLB)

Mengis Capital Management Inc. raised its holdings in Schlumberger Limited (NYSE:SLB) by 75.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 73,355 shares of the oil and gas company’s stock after buying an additional 31,476 shares during the period. Mengis Capital Management Inc.’s holdings in Schlumberger were worth $3,817,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Stock Yards Bank & Trust Co. grew its position in shares of Schlumberger by 9.0% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 430,182 shares of the oil and gas company’s stock valued at $22,387,000 after acquiring an additional 35,537 shares during the period. Commerzbank Aktiengesellschaft FI bought a new position in shares of Schlumberger in the 4th quarter valued at about $348,000. Cetera Trust Company N.A bought a new position in shares of Schlumberger in the 4th quarter valued at about $46,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Schlumberger by 3.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 152,504 shares of the oil and gas company’s stock valued at $7,936,000 after acquiring an additional 4,797 shares during the period. Finally, Grandfield & Dodd LLC grew its position in shares of Schlumberger by 26.1% in the 4th quarter. Grandfield & Dodd LLC now owns 9,173 shares of the oil and gas company’s stock valued at $477,000 after acquiring an additional 1,896 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Bank of America decreased their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday. Stifel Nicolaus reissued a “buy” rating and issued a $64.00 price objective on shares of Schlumberger in a research report on Monday. Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a report on Monday. Finally, HSBC reaffirmed a “buy” rating and set a $71.00 target price on shares of Schlumberger in a report on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.67.

Insider Activity

In other news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mogharbel Khaled Al sold 38,570 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the completion of the transaction, the executive vice president now owns 386,841 shares of the company’s stock, valued at $19,504,523.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,191 shares of company stock worth $8,636,322. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Stock Performance

NYSE SLB traded up $0.05 during trading on Monday, reaching $49.90. The company’s stock had a trading volume of 6,002,841 shares, compared to its average volume of 11,212,164. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $71.23 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12. The firm has a 50 day moving average price of $51.62 and a 200 day moving average price of $52.36.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS. As a group, equities analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a $0.275 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.20%. Schlumberger’s payout ratio is presently 36.54%.

About Schlumberger

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.