Oppenheimer Asset Management Inc. Has $286,000 Stake in Schlumberger Limited (NYSE:SLB)

Oppenheimer Asset Management Inc. grew its stake in Schlumberger Limited (NYSE:SLB) by 11.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,816 shares of the oil and gas company’s stock after purchasing an additional 683 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Schlumberger were worth $286,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SLB. Price T Rowe Associates Inc. MD increased its stake in Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after buying an additional 10,606,191 shares during the last quarter. Boston Partners boosted its holdings in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after buying an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in Schlumberger during the second quarter valued at about $92,944,000. 1832 Asset Management L.P. purchased a new position in Schlumberger in the second quarter valued at about $91,364,000. Finally, Legal & General Group Plc grew its position in shares of Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after acquiring an additional 1,560,684 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $43.53 on Thursday. The company has a market capitalization of $61.47 billion, a P/E ratio of 14.00, a PEG ratio of 1.52 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The stock has a 50 day moving average price of $42.61 and a two-hundred day moving average price of $44.60. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. Analysts expect that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is presently 35.37%.

Analyst Upgrades and Downgrades

SLB has been the topic of several research analyst reports. Evercore ISI dropped their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. TD Cowen reduced their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Morgan Stanley decreased their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

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.