Frank Rimerman Advisors LLC Has $388,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

Frank Rimerman Advisors LLC raised its stake in Schlumberger Limited (NYSE:SLB) by 45,577.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,222 shares of the oil and gas company’s stock after purchasing an additional 8,204 shares during the period. Frank Rimerman Advisors LLC’s holdings in Schlumberger were worth $388,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Prospector Partners LLC raised its holdings in Schlumberger by 1.0% in the 2nd quarter. Prospector Partners LLC now owns 222,260 shares of the oil and gas company’s stock valued at $10,486,000 after acquiring an additional 2,230 shares during the period. ProShare Advisors LLC increased its position in Schlumberger by 9.1% during the second quarter. ProShare Advisors LLC now owns 313,292 shares of the oil and gas company’s stock worth $14,781,000 after acquiring an additional 26,090 shares during the period. Profund Advisors LLC raised its stake in Schlumberger by 7.4% in the 2nd quarter. Profund Advisors LLC now owns 86,155 shares of the oil and gas company’s stock worth $4,065,000 after purchasing an additional 5,949 shares in the last quarter. Alaethes Wealth LLC boosted its stake in shares of Schlumberger by 3.2% in the second quarter. Alaethes Wealth LLC now owns 24,340 shares of the oil and gas company’s stock valued at $1,155,000 after buying an additional 750 shares during the period. Finally, Ensign Peak Advisors Inc increased its stake in Schlumberger by 22.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 605,173 shares of the oil and gas company’s stock worth $28,552,000 after acquiring an additional 109,470 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Transactions at Schlumberger

In related news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now directly owns 203,076 shares in the company, valued at $10,141,615.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 $3,073,428.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock worth $9,048,624 over the last ninety days. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Bank of America decreased their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. UBS Group cut their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Barclays lowered their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average price target of $66.29.

Schlumberger Stock Performance

Schlumberger stock opened at $42.98 on Wednesday. The business has a 50 day moving average of $44.27 and a 200-day moving average of $47.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $61.41. The company has a market capitalization of $61.02 billion, a P/E ratio of 14.28, a P/E/G ratio of 0.92 and a beta of 1.51.

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

Schlumberger Announces Dividend

The business also recently declared 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 is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.56%. Schlumberger’s payout ratio is 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.