Impala Asset Management LLC Has $1.05 Million Stock Holdings in Schlumberger Limited $SLB

Key Points

• Impala Asset Management LLC reduced its holdings in Schlumberger Limited by 85.3%, now owning 25,000 shares valued at approximately $1.05 million, which accounts for about 0.7% of their total portfolio.
• Schlumberger's quarterly earnings report indicated earnings per share of $0.74, slightly above analyst expectations, although revenue fell by 6.5% year-over-year.
• The company announced a quarterly dividend of $0.285, which represents a yield of 3.2% and reflects a payout ratio of 39.04%.

Impala Asset Management LLC decreased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 85.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,000 shares of the oil and gas company's stock after selling 145,000 shares during the quarter. Schlumberger accounts for approximately 0.7% of Impala Asset Management LLC's holdings, making the stock its 14th biggest holding. Impala Asset Management LLC's holdings in Schlumberger were worth $1,045,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SLB. First Command Advisory Services Inc. raised its stake in shares of Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after buying an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Schlumberger during the 1st quarter worth about $33,000. Alpine Bank Wealth Management acquired a new stake in shares of Schlumberger during the 1st quarter worth about $34,000. Park Square Financial Group LLC acquired a new stake in shares of Schlumberger during the 1st quarter worth about $38,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Schlumberger during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Up 1.0%

Schlumberger stock opened at $36.15 on Wednesday. The company's 50 day simple moving average is $34.80 and its 200 day simple moving average is $35.86. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15. The firm has a market capitalization of $48.84 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 9.93 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same quarter last year, the firm earned $0.85 EPS. Schlumberger's quarterly revenue was down 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. Schlumberger's payout ratio is presently 39.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Barclays lowered their price objective on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Melius Research began coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.86.

Schlumberger Company 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.

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