Oppenheimer Asset Management Inc. Buys 683 Shares of Schlumberger Limited (NYSE:SLB)

Oppenheimer Asset Management Inc. lifted its position in Schlumberger Limited (NYSE:SLB) by 11.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,816 shares of the oil and gas company’s stock after buying an additional 683 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Schlumberger were worth $286,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Crescent Grove Advisors LLC acquired a new stake in Schlumberger in the 2nd quarter valued at about $257,000. Victory Capital Management Inc. boosted its position in Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after purchasing an additional 65,318 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after buying an additional 14,376 shares during the period. Public Sector Pension Investment Board grew its stake in Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after buying an additional 11,813 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Schlumberger by 26.0% during the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after acquiring an additional 63,413 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Dbs Bank began coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target for the company. Susquehanna lowered their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Finally, Evercore ISI dropped their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Two investment 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. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Trading Up 1.0 %

SLB opened at $43.53 on Thursday. The firm has a market capitalization of $61.47 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.52 and a beta of 1.52. The company’s 50 day moving average price is $42.61 and its two-hundred day moving average price is $44.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the company earned $0.78 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, research analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed 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 of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is 35.37%.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

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.