OppenheimerFunds Inc. Reduces Stake in Schlumberger Limited. (SLB)

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OppenheimerFunds Inc. lowered its position in shares of Schlumberger Limited. (NYSE:SLB) by 94.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 228,466 shares of the oil and gas company’s stock after selling 4,182,226 shares during the quarter. OppenheimerFunds Inc.’s holdings in Schlumberger were worth $14,800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Parsons Capital Management Inc. RI grew its holdings in shares of Schlumberger by 0.9% during the fourth quarter. Parsons Capital Management Inc. RI now owns 77,882 shares of the oil and gas company’s stock worth $5,248,000 after purchasing an additional 694 shares during the last quarter. Lee Danner & Bass Inc. grew its holdings in shares of Schlumberger by 0.7% during the first quarter. Lee Danner & Bass Inc. now owns 114,118 shares of the oil and gas company’s stock worth $7,393,000 after purchasing an additional 747 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in shares of Schlumberger by 14.6% during the first quarter. Financial Management Professionals Inc. now owns 5,870 shares of the oil and gas company’s stock worth $380,000 after purchasing an additional 750 shares during the last quarter. American Research & Management Co. grew its holdings in shares of Schlumberger by 81.1% during the fourth quarter. American Research & Management Co. now owns 1,731 shares of the oil and gas company’s stock worth $117,000 after purchasing an additional 775 shares during the last quarter. Finally, Capital Insight Partners LLC grew its holdings in shares of Schlumberger by 2.8% during the fourth quarter. Capital Insight Partners LLC now owns 28,604 shares of the oil and gas company’s stock worth $1,928,000 after purchasing an additional 777 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

In other Schlumberger news, CEO Paal Kibsgaard purchased 10,000 shares of the company’s stock in a transaction on Monday, March 26th. The shares were purchased at an average cost of $64.68 per share, with a total value of $646,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick Schorn purchased 5,000 shares of the company’s stock in a transaction on Monday, March 26th. The stock was acquired at an average cost of $64.79 per share, for a total transaction of $323,950.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 18,000 shares of company stock worth $1,163,650. Insiders own 0.48% of the company’s stock.

Shares of Schlumberger opened at $66.58 on Friday, according to MarketBeat.com. Schlumberger Limited. has a 52-week low of $61.02 and a 52-week high of $80.35. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $89.73 billion, a price-to-earnings ratio of 44.39, a price-to-earnings-growth ratio of 5.62 and a beta of 1.05.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 20th. The oil and gas company reported $0.38 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. Schlumberger had a positive return on equity of 5.85% and a negative net margin of 4.01%. The firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.79 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year. equities analysts predict that Schlumberger Limited. will post 1.92 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Wednesday, June 6th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.

SLB has been the topic of several research reports. Cowen restated a “buy” rating and set a $81.00 price target on shares of Schlumberger in a report on Thursday, March 15th. Credit Suisse Group set a $86.00 price target on Schlumberger and gave the stock a “buy” rating in a report on Wednesday, March 14th. Bank of America upgraded Schlumberger from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $66.50 to $75.00 in a report on Monday, February 26th. Susquehanna Bancshares set a $87.00 price target on Schlumberger and gave the stock a “buy” rating in a report on Monday, April 23rd. Finally, Seaport Global Securities set a $76.00 price target on Schlumberger and gave the stock a “buy” rating in a report on Monday, April 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $80.00.

About Schlumberger

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.

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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