Kornitzer Capital Management Inc. KS Increases Stake in Schlumberger Limited (NYSE:SLB)

Kornitzer Capital Management Inc. KS raised its position in Schlumberger Limited (NYSE:SLB) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,575,758 shares of the oil and gas company’s stock after purchasing an additional 36,574 shares during the period. Schlumberger accounts for 1.2% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 13th largest holding. Kornitzer Capital Management Inc. KS owned approximately 0.11% of Schlumberger worth $60,415,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SLB. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger during the 3rd quarter worth about $29,000. YANKCOM Partnership acquired a new stake in Schlumberger during the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger during the 4th quarter worth approximately $32,000. Ashton Thomas Securities LLC acquired a new position in shares of Schlumberger in the 3rd quarter valued at $37,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Schlumberger in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 0.8 %

Shares of SLB stock opened at $41.75 on Tuesday. The business’s fifty day moving average price is $40.08 and its 200 day moving average price is $41.96. The firm has a market capitalization of $58.48 billion, a PE ratio of 13.42, a P/E/G ratio of 9.49 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter last year, the firm posted $0.86 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.73%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 36.66%.

Insider Buying and Selling

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the sale, the executive vice president now directly owns 184,626 shares in the company, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,782 shares of company stock valued at $11,442,229. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SLB has been the subject of several research analyst reports. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. TD Cowen upped their target price on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Stifel Nicolaus decreased their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Finally, Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Company Profile

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.