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

Oppenheimer & Co. Inc. grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 58.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 137,235 shares of the oil and gas company’s stock after acquiring an additional 50,756 shares during the period. Oppenheimer & Co. Inc.’s holdings in Schlumberger were worth $5,736,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SLB. True Wealth Design LLC lifted its position in shares of Schlumberger by 584.7% during the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 842 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at $40,000. Sound Income Strategies LLC raised its stake in Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 698 shares during the period. J.Safra Asset Management Corp acquired a new stake in Schlumberger during the 4th quarter valued at $46,000. Finally, Heck Capital Advisors LLC acquired a new stake in Schlumberger during the 4th quarter valued at $47,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In related news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SLB. Barclays cut 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. Piper Sandler cut their target price on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley cut 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. Wells Fargo & Company cut 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. Finally, Stifel Nicolaus dropped their price target 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 given a buy rating and one has issued 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 $52.38.

Schlumberger Trading Down 0.7%

Shares of NYSE:SLB opened at $33.50 on Wednesday. The company has a market cap of $45.57 billion, a P/E ratio of 11.36, a P/E/G ratio of 8.74 and a beta of 1.01. The stock’s 50-day moving average is $34.53 and its 200-day moving average is $37.97. 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 quick ratio of 0.93 and a current ratio of 1.24.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $8.49 billion during the quarter, compared to analyst estimates of $8.64 billion. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share. Equities research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s dividend payout ratio is currently 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.