Oppenheimer & Co. Inc. Has $3.32 Million Stake in Schlumberger Limited (NYSE:SLB)

Oppenheimer & Co. Inc. reduced its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 50.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,479 shares of the oil and gas company's stock after selling 87,102 shares during the period. Oppenheimer & Co. Inc.'s holdings in Schlumberger were worth $3,316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in SLB. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger during the third quarter valued at approximately $29,000. YANKCOM Partnership acquired a new stake in shares of Schlumberger during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger during the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger during the fourth quarter valued at approximately $34,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger during the third quarter valued at approximately $37,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent analyst reports. Griffin Securities lowered shares of Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Wells Fargo & Company cut their price target on shares of Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Jefferies Financial Group lowered their price objective on shares of Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a research report on Friday, January 3rd. Stifel Nicolaus lowered their price objective on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday, December 23rd. Finally, Atb Cap Markets downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Schlumberger has an average rating of "Moderate Buy" and a consensus price target of $55.81.

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Schlumberger Stock Performance

Shares of NYSE SLB traded up $0.39 during trading hours on Wednesday, hitting $39.47. 13,651,038 shares of the stock were exchanged, compared to its average volume of 14,370,351. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company's 50 day moving average is $40.62 and its 200 day moving average is $41.70. The firm has a market capitalization of $53.67 billion, a P/E ratio of 12.69, a P/E/G ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. On average, research analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This is a boost from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.89%. The ex-dividend date is Wednesday, February 5th. Schlumberger's dividend payout ratio is presently 36.66%.

Insider Activity

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now owns 11,240 shares of the company's stock, valued at $496,808. This represents a 38.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is currently owned by corporate 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.