Oppenheimer Asset Management Inc. Has $3.56 Million Holdings in Schlumberger Limited (NYSE:SLB)

Oppenheimer Asset Management Inc. lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 1,135.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,102 shares of the oil and gas company’s stock after acquiring an additional 78,216 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Schlumberger were worth $3,557,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SLB. Brighton Jones LLC raised its stake in shares of Schlumberger by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Schlumberger by 9.3% during the fourth quarter. Global Retirement Partners LLC now owns 5,383 shares of the oil and gas company’s stock worth $206,000 after buying an additional 457 shares in the last quarter. IFP Advisors Inc raised its position in Schlumberger by 97.4% in the 4th quarter. IFP Advisors Inc now owns 65,597 shares of the oil and gas company’s stock valued at $2,515,000 after buying an additional 32,367 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in Schlumberger in the 4th quarter valued at approximately $254,000. Finally, Pine Valley Investments Ltd Liability Co acquired a new position in Schlumberger during the 4th quarter worth approximately $226,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Trading Down 0.9%

Shares of Schlumberger stock opened at $33.21 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. The business has a fifty day simple moving average of $34.51 and a two-hundred day simple moving average of $37.94. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The company has a market capitalization of $45.17 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 8.68 and a beta of 1.01.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s payout ratio is 38.64%.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of recent research reports. Morgan Stanley lowered their price objective on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Jefferies Financial Group lowered their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, March 27th. Barclays cut their price target on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Stifel Nicolaus decreased their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, April 28th. Finally, Wells Fargo & Company dropped their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, June 5th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $52.38.

Insider Activity

In related news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director now owns 23,525 shares of the company’s stock, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Schlumberger 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.