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

Frank Rimerman Advisors LLC boosted its stake in Schlumberger Limited (NYSE:SLB) by 45,577.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,222 shares of the oil and gas company’s stock after purchasing an additional 8,204 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Schlumberger were worth $388,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Register Financial Advisors LLC bought a new position in Schlumberger in the 1st quarter valued at about $27,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger during the second quarter valued at approximately $30,000. Manchester Capital Management LLC grew its holdings 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 worth $31,000 after buying an additional 426 shares in the last quarter. Finally, Riverview Trust Co grew its stake in shares of Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 308 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SLB has been the subject of a number of recent analyst reports. Barclays reduced their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. TD Cowen increased their target price on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Piper Sandler lowered their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Finally, Citigroup lowered their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.29.

Insider Transactions at Schlumberger

In related news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were 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 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 at the SEC website. In other news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

Schlumberger stock opened at $42.98 on Wednesday. The firm’s 50 day simple moving average is $44.27 and its 200 day simple moving average is $47.26. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $61.02 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 0.92 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.41.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The business’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.56%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Schlumberger 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.