Frank Rimerman Advisors LLC Buys 1,580 Shares of Schlumberger Limited (NYSE:SLB)

Frank Rimerman Advisors LLC grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 17.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 10,853 shares of the oil and gas company’s stock after acquiring an additional 1,580 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Schlumberger were worth $454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. First Command Advisory Services Inc. boosted its holdings in Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after buying an additional 477 shares during the last quarter. Alpine Bank Wealth Management bought a new position in Schlumberger during the first quarter worth about $34,000. True Wealth Design LLC boosted its holdings in Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after buying an additional 842 shares during the last quarter. Park Square Financial Group LLC bought a new position in Schlumberger during the first quarter worth about $38,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Schlumberger during the fourth quarter worth about $40,000. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director directly owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SLB. Atb Cap Markets upgraded Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Stifel Nicolaus cut their price objective on Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Morgan Stanley cut their target price on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. UBS Group boosted their price target on Schlumberger from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Finally, Piper Sandler decreased their target price on Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.28.

Schlumberger Price Performance

SLB opened at $32.90 on Monday. The stock has a 50-day moving average price of $34.72 and a 200-day moving average price of $36.84. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.16. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $44.46 billion, a P/E ratio of 11.27, a PEG ratio of 9.12 and a beta of 1.03.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%. The business had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the prior year, the company posted $0.85 EPS. Schlumberger’s quarterly revenue was down 6.5% compared to the same quarter last year. Equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is currently 39.04%.

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.