Oppenheimer & Co. Inc. Purchases 50,756 Shares of Schlumberger Limited (NYSE:SLB)

Oppenheimer & Co. Inc. boosted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 58.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,235 shares of the oil and gas company's stock after purchasing 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 (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Oppenheimer Asset Management Inc. raised its stake in Schlumberger by 1,135.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 85,102 shares of the oil and gas company's stock valued at $3,557,000 after purchasing an additional 78,216 shares in the last quarter. Whalen Wealth Management Inc. raised its stake in Schlumberger by 37.7% in the first quarter. Whalen Wealth Management Inc. now owns 13,538 shares of the oil and gas company's stock valued at $566,000 after purchasing an additional 3,705 shares in the last quarter. Jmac Enterprises LLC purchased a new stake in Schlumberger in the first quarter valued at approximately $205,000. Live Oak Private Wealth LLC raised its stake in shares of Schlumberger by 38.2% during the first quarter. Live Oak Private Wealth LLC now owns 176,007 shares of the oil and gas company's stock worth $7,357,000 after acquiring an additional 48,607 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Schlumberger by 6.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 132,533 shares of the oil and gas company's stock worth $5,540,000 after acquiring an additional 8,060 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SLB has been the topic of several analyst reports. Barclays decreased their target price on shares of 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 decreased their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their target price on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, June 5th. Morgan Stanley decreased their target price on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Finally, Stifel Nicolaus decreased their target price on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Four investment 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 company. According to data from MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and a consensus target price of $52.03.

Insider Activity

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director now owns 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company's stock.

Schlumberger Trading Up 0.5%

NYSE:SLB traded up $0.18 during trading hours on Friday, hitting $34.01. The company had a trading volume of 17,164,745 shares, compared to its average volume of 13,701,047. The company has a market capitalization of $46.26 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 8.86 and a beta of 1.01. The stock has a 50-day moving average price of $34.46 and a 200 day moving average price of $37.82. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93.

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

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is presently 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.