InvesTrust Cuts Stake in Schlumberger Limited $SLB

Key Points

• InvesTrust reduced its stake in Schlumberger Limited by 62.3% in the second quarter, ending the period with 39,853 shares valued at approximately $1.347 million.
• Schlumberger reported **$0.74** earnings per share for the latest quarter, which exceeded analysts' estimates of **$0.73**, although revenue decreased by **6.5%** year-over-year.
• The company declared a quarterly dividend of **$0.285**, set to be paid on **October 9th**, offering an annualized yield of **3.2%** as of the latest report.

InvesTrust cut its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 62.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,853 shares of the oil and gas company's stock after selling 65,885 shares during the quarter. InvesTrust's holdings in Schlumberger were worth $1,347,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in Schlumberger by 478.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after purchasing an additional 39,474,501 shares during the period. Boston Partners grew its stake in shares of Schlumberger by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after acquiring an additional 4,300,222 shares in the last quarter. Northern Trust Corp grew its stake in shares of Schlumberger by 4.4% during the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock valued at $602,860,000 after acquiring an additional 604,832 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Schlumberger by 22.8% during the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock valued at $375,738,000 after acquiring an additional 1,667,203 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Schlumberger by 3.8% during the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock valued at $320,154,000 after acquiring an additional 281,937 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Down 1.2%

NYSE:SLB opened at $35.58 on Friday. The company has a market capitalization of $53.14 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 10.00 and a beta of 1.05. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.15. The stock has a 50-day simple moving average of $34.82 and a 200 day simple moving average of $35.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

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

Schlumberger Dividend Announcement

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

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SLB has been the subject of several recent analyst reports. Melius Research initiated coverage on Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price for the company. Barclays lowered their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. UBS Group lowered their target price on Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. JPMorgan Chase & Co. lowered their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Finally, Wells Fargo & Company downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.86.

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.

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