Kornitzer Capital Management Inc. KS Grows Stock Holdings in Schlumberger Limited (NYSE:SLB)

Kornitzer Capital Management Inc. KS increased its stake in Schlumberger Limited (NYSE:SLB) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,539,184 shares of the oil and gas company’s stock after purchasing an additional 29,504 shares during the quarter. Schlumberger comprises about 1.2% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 12th largest position. Kornitzer Capital Management Inc. KS owned 0.11% of Schlumberger worth $64,569,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLB. Olstein Capital Management L.P. boosted its stake in Schlumberger by 47.0% in the 3rd quarter. Olstein Capital Management L.P. now owns 244,000 shares of the oil and gas company’s stock worth $10,236,000 after purchasing an additional 78,000 shares during the period. Jmac Enterprises LLC bought a new position in shares of Schlumberger in the third quarter valued at approximately $206,000. Principal Financial Group Inc. boosted its position in shares of Schlumberger by 8.0% in the third quarter. Principal Financial Group Inc. now owns 4,487,067 shares of the oil and gas company’s stock valued at $188,232,000 after acquiring an additional 332,500 shares during the period. Graypoint LLC grew its stake in Schlumberger by 3.4% during the third quarter. Graypoint LLC now owns 9,536 shares of the oil and gas company’s stock valued at $400,000 after acquiring an additional 311 shares in the last quarter. Finally, Spinnaker Trust increased its holdings in Schlumberger by 21.8% during the 3rd quarter. Spinnaker Trust now owns 27,807 shares of the oil and gas company’s stock worth $1,167,000 after acquiring an additional 4,984 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Down 1.4 %

Schlumberger stock traded down $0.60 during trading hours on Thursday, reaching $43.17. The company had a trading volume of 1,862,115 shares, compared to its average volume of 11,205,061. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The company has a 50-day moving average price of $42.25 and a 200 day moving average price of $44.96. The firm has a market cap of $60.96 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 1.42 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 earnings per share. Equities analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group reduced their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Bank of America lowered their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company cut their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger 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.