Shelter Mutual Insurance Co Trims Stock Position in Schlumberger Limited. (NYSE:SLB)

Shelter Mutual Insurance Co cut its stake in shares of Schlumberger Limited. (NYSE:SLB) by 8.8% in the second quarter, HoldingsChannel reports. 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 Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Lenox Wealth Management Inc. boosted 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 worth $38,000 after purchasing an additional 256 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in Schlumberger by 1.0% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,410 shares of the oil and gas company’s stock worth $1,010,000 after purchasing an additional 262 shares during the period. Pendal Group Ltd boosted its stake in Schlumberger by 1.5% in the 2nd quarter. Pendal Group Ltd now owns 18,636 shares of the oil and gas company’s stock worth $703,000 after purchasing an additional 269 shares during the period. Monarch Capital Management Inc. boosted its stake in Schlumberger by 1.3% in the 1st quarter. Monarch Capital Management Inc. now owns 21,414 shares of the oil and gas company’s stock worth $933,000 after purchasing an additional 285 shares during the period. Finally, Cetera Advisor Networks LLC boosted its stake in Schlumberger by 2.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 10,746 shares of the oil and gas company’s stock worth $471,000 after purchasing an additional 286 shares during the period. Institutional investors own 77.22% of the company’s stock.

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

SLB has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Morgan Stanley set a $51.00 target price on Schlumberger and gave the company a “hold” rating in a research report on Monday, April 22nd. SunTrust Banks increased their target price on Schlumberger to $53.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Gabelli initiated coverage on Schlumberger in a research report on Thursday, June 27th. They set a “buy” rating and a $55.00 target price for the company. Finally, Tudor Pickering downgraded Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 target price for the company. in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. Schlumberger presently has an average rating of “Hold” and a consensus price target of $52.17.

NYSE:SLB traded down $0.79 during midday trading on Thursday, hitting $31.55. 980,493 shares of the company traded hands, compared to its average volume of 10,231,132. The firm has a fifty day moving average price of $38.50. Schlumberger Limited. has a 12-month low of $32.20 and a 12-month high of $65.61. The stock has a market cap of $47.40 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 2.15 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 1.01.

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

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

Schlumberger Company Profile

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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