Schlumberger Limited (NYSE:SLB) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 58.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,235 shares of the oil and gas company's stock after acquiring an additional 50,756 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Schlumberger were worth $5,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Dynamic Technology Lab Private Ltd lifted its stake in shares of Schlumberger by 32.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock worth $2,737,000 after purchasing an additional 17,405 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Schlumberger by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after purchasing an additional 1,377,134 shares in the last quarter. Integrated Advisors Network LLC lifted its stake in shares of Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after purchasing an additional 66,907 shares in the last quarter. Miller Financial Services LLC acquired a new position in shares of Schlumberger during the fourth quarter worth about $375,000. Finally, Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of Schlumberger by 40.4% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 220,685 shares of the oil and gas company's stock worth $8,461,000 after purchasing an additional 63,500 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Buying and Selling

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director now directly owns 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares of the company's stock, valued at $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of recent research reports. Barclays reduced their price objective on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Jefferies Financial Group reduced their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Susquehanna cut their price target on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research note on Monday, April 28th. Stifel Nicolaus cut their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Finally, Morgan Stanley cut their price target on Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Schlumberger currently has an average rating of "Moderate Buy" and a consensus target price of $52.38.

Schlumberger Stock Down 0.7%

NYSE:SLB opened at $33.50 on Wednesday. The firm has a market capitalization of $45.57 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 8.74 and a beta of 1.01. The stock has a 50 day moving average of $34.53 and a 200-day moving average of $37.97. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share. Analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is 38.64%.

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.

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.