Farmers & Merchants Investments Inc. Boosts Stake in Schlumberger Limited (NYSE:SLB)

Farmers & Merchants Investments Inc. raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 135,242 shares of the oil and gas company’s stock after buying an additional 543 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Schlumberger were worth $6,381,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger during the first quarter valued at $27,000. Bruce G. Allen Investments LLC boosted its stake in shares of Schlumberger by 204.2% during the 2nd 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 during the last quarter. Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger during the second quarter worth about $30,000. Manchester Capital Management LLC raised its position in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the last quarter. Finally, Riverview Trust Co lifted its stake 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 valued at $31,000 after buying an additional 308 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays lowered their target price on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Evercore ISI raised their price target on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Piper Sandler lowered their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, TD Cowen increased their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Insider Activity at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. In the last three months, insiders sold 180,716 shares of company stock valued at $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 0.8 %

NYSE:SLB traded up $0.33 during mid-day trading on Friday, hitting $41.55. The company had a trading volume of 472,940 shares, compared to its average volume of 10,537,403. The business has a fifty day simple moving average of $45.72 and a 200-day simple moving average of $48.01. The firm has a market capitalization of $59.39 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.94 and a beta of 1.55. Schlumberger Limited has a 1 year low of $40.96 and a 1 year high of $62.12. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. Equities analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.65%. Schlumberger’s dividend payout ratio (DPR) 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.