Shelter Mutual Insurance Co Sells 8,940 Shares of Schlumberger Limited. (NYSE:SLB)

Shelter Mutual Insurance Co lowered its stake in shares of Schlumberger Limited. (NYSE:SLB) by 8.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 93,220 shares of the oil and gas company’s stock after selling 8,940 shares during the period. Shelter Mutual Insurance Co’s holdings in Schlumberger were worth $3,704,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lenox Wealth Management Inc. increased its stake in Schlumberger by 41.1% in the 1st quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 256 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Schlumberger by 1.0% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,410 shares of the oil and gas company’s stock valued at $1,010,000 after purchasing an additional 262 shares during the last quarter. Pendal Group Ltd raised its holdings in shares of Schlumberger by 1.5% in the second quarter. Pendal Group Ltd now owns 18,636 shares of the oil and gas company’s stock valued at $703,000 after purchasing an additional 269 shares during the last quarter. Monarch Capital Management Inc. raised its holdings in shares of Schlumberger by 1.3% in the first quarter. Monarch Capital Management Inc. now owns 21,414 shares of the oil and gas company’s stock valued at $933,000 after purchasing an additional 285 shares during the last quarter. Finally, Cetera Advisor Networks LLC raised its holdings in shares of Schlumberger by 2.7% in the first quarter. Cetera Advisor Networks LLC now owns 10,746 shares of the oil and gas company’s stock valued at $471,000 after purchasing an additional 286 shares during the last quarter. 77.22% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Tudor Pickering downgraded shares of Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 target price for the company. in a report on Monday, April 22nd. BMO Capital Markets set a $44.00 target price on shares of Schlumberger and gave the company a “hold” rating in a report on Monday, April 22nd. Morgan Stanley set a $51.00 price objective on shares of Schlumberger and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, Raymond James restated a “hold” rating on shares of Schlumberger in a report on Friday, June 21st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $52.17.

In related news, EVP Patrick Schorn sold 12,151 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total value of $473,038.43. Following the sale, the executive vice president now directly owns 130,000 shares of the company’s stock, valued at $5,060,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total transaction of $976,473.63. Following the completion of the sale, the insider now directly owns 46,354 shares in the company, valued at $1,881,508.86. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

SLB traded down $0.79 on Thursday, reaching $31.55. The company had a trading volume of 980,493 shares, compared to its average volume of 10,231,132. The business has a 50 day moving average of $38.50. The stock has a market capitalization of $47.40 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 2.15 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39. Schlumberger Limited. has a 52-week low of $32.20 and a 52-week high of $65.61.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $8.27 billion for the quarter, compared to the consensus estimate of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. Schlumberger’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. On average, equities analysts expect that Schlumberger Limited. will post 1.51 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio is currently 123.46%.

About Schlumberger

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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