Loudon Investment Management LLC Sells 29,845 Shares of Schlumberger Limited $SLB

Key Points

• Loudon Investment Management LLC reduced its stake in Schlumberger Limited by 56.5%, selling 29,845 shares in the second quarter, leaving it with 22,939 shares valued at $775,000.
• Other institutional investors, including Charles Schwab and Boston Partners, have significantly increased their holdings in Schlumberger during the first quarter, indicating strong institutional interest.
• Schlumberger recently declared a quarterly dividend of $0.285 per share, representing an annualized dividend of $1.14 and a yield of 3.3%.

Loudon Investment Management LLC cut its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 56.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,939 shares of the oil and gas company's stock after selling 29,845 shares during the period. Loudon Investment Management LLC's holdings in Schlumberger were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SLB. Charles Schwab Investment Management Inc. grew its position in shares of Schlumberger by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock worth $1,994,674,000 after buying an additional 39,474,501 shares during the period. Boston Partners boosted its holdings in shares of Schlumberger by 27.7% in 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 buying an additional 4,300,222 shares during the period. Northern Trust Corp boosted its holdings in shares of Schlumberger by 4.4% in 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 buying an additional 604,832 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Schlumberger by 22.8% in 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 buying an additional 1,667,203 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Schlumberger by 3.8% in 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 buying an additional 281,937 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Activity

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction dated 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 owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Schlumberger Trading Down 2.1%

NYSE SLB opened at $34.36 on Wednesday. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.15. The business's fifty day moving average is $34.68 and its 200-day moving average is $35.28. The stock has a market capitalization of $51.32 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 9.75 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 posted its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. Equities research analysts predict 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. Stockholders of record on Wednesday, September 3rd will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's payout ratio is currently 39.04%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SLB shares. Barclays cut their price objective on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Melius began coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target on the stock. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. UBS Group dropped their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Finally, Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.18.

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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