Mathes Company Inc. Has $694,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

Mathes Company Inc. reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 12.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,700 shares of the oil and gas company’s stock after selling 2,000 shares during the quarter. Mathes Company Inc.’s holdings in Schlumberger were worth $694,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SLB. Register Financial Advisors LLC acquired a new stake in Schlumberger during the first quarter worth about $27,000. Bruce G. Allen Investments LLC boosted its position 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 acquiring an additional 392 shares in the last quarter. Unique Wealth Strategies LLC bought a new position in Schlumberger in the second quarter valued at approximately $30,000. Manchester Capital Management LLC raised its position in Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Finally, Riverview Trust Co lifted its stake in Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 0.2 %

NYSE:SLB opened at $41.44 on Thursday. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $61.70. The firm’s fifty day moving average is $44.63 and its 200-day moving average is $47.48. The firm has a market cap of $59.22 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.85 and a beta of 1.52. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion during 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 business’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. Equities analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.65%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insiders Place Their Bets

In related news, Director Vijay Kasibhatla sold 10,000 shares of the 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 transaction, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other 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 transaction of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,716 shares of company stock worth $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of research analyst reports. UBS Group lowered their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday. Piper Sandler dropped their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Susquehanna decreased their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.29.

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.