Schlumberger Limited (NYSE:SLB) Shares Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS grew its holdings in Schlumberger Limited (NYSE:SLB) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,575,758 shares of the oil and gas company’s stock after purchasing an additional 36,574 shares during the quarter. Schlumberger makes up about 1.2% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 13th biggest holding. Kornitzer Capital Management Inc. KS’s holdings in Schlumberger were worth $60,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in Schlumberger in the third quarter valued at about $29,000. YANKCOM Partnership purchased a new stake in shares of Schlumberger during the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger during the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new position in Schlumberger in the 4th quarter worth approximately $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger during the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of several analyst reports. Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. TD Cowen lifted their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Evercore ISI restated an “in-line” rating and set a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. JPMorgan Chase & Co. upped their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Jefferies Financial Group decreased their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Price Performance

Shares of SLB opened at $41.75 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a market cap of $58.48 billion, a P/E ratio of 13.42, a PEG ratio of 9.49 and a beta of 1.51. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The stock has a fifty day moving average price of $40.08 and a 200 day moving average price of $41.96.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. On average, research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.73%. Schlumberger’s payout ratio is currently 36.66%.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,782 shares of company stock valued at $11,442,229 in the last three months. 0.26% of the stock is currently owned by corporate insiders.

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.