Oppenheimer & Co. Inc. cut its stake in shares of Schlumberger (NYSE:SLB) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,660 shares of the oil and gas company’s stock after selling 2,312 shares during the period. Oppenheimer & Co. Inc.’s holdings in Schlumberger were worth $7,188,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. FNY Partners Fund LP acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $101,000. Aviance Capital Management LLC acquired a new position in shares of Schlumberger in the second quarter valued at approximately $100,000. Mountain Capital Investment Advisors Inc acquired a new position in shares of Schlumberger in the second quarter valued at approximately $107,000. Atlantic Trust LLC acquired a new position in shares of Schlumberger in the second quarter valued at approximately $137,000. Finally, Legacy Advisors LLC acquired a new position in shares of Schlumberger in the third quarter valued at approximately $146,000. Institutional investors and hedge funds own 79.90% of the company’s stock.
SLB has been the subject of a number of research reports. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Jefferies Group set a $78.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a report on Thursday, January 4th. Credit Suisse Group set a $86.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a report on Wednesday, March 14th. B. Riley set a $80.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a report on Wednesday, January 3rd. Finally, SunTrust Banks lifted their price objective on shares of Schlumberger from $72.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $81.23.
Shares of Schlumberger stock opened at $64.36 on Monday. Schlumberger has a 52-week low of $61.02 and a 52-week high of $80.89. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $89,069.93, a P/E ratio of 42.91, a PEG ratio of 5.08 and a beta of 1.05.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.04. The business had revenue of $8.18 billion during the quarter, compared to the consensus estimate of $8.12 billion. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. equities research analysts anticipate that Schlumberger will post 2.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, February 6th. This represents a $2.00 annualized dividend and a dividend yield of 3.11%. Schlumberger’s dividend payout ratio is presently 133.33%.
In related news, insider Mogharbel Khaled Al acquired 3,000 shares of Schlumberger stock in a transaction dated Wednesday, March 28th. The stock was acquired at an average price of $64.30 per share, for a total transaction of $192,900.00. Following the transaction, the insider now owns 30,482 shares of the company’s stock, valued at $1,959,992.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick Schorn acquired 5,000 shares of Schlumberger stock in a transaction dated Monday, March 26th. The shares were bought at an average price of $64.79 per share, with a total value of $323,950.00. The disclosure for this purchase can be found here. Insiders have bought a total of 18,000 shares of company stock valued at $1,163,650 in the last 90 days. Insiders own 0.48% of the company’s stock.
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Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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