Schlumberger Limited (NYSE:SLB) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 395.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 778,938 shares of the oil and gas company's stock after acquiring an additional 621,809 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Schlumberger worth $32,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Crescent Grove Advisors LLC purchased a new stake in shares of Schlumberger during the second quarter worth approximately $257,000. Victory Capital Management Inc. grew its stake in shares of Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company's stock worth $34,305,000 after purchasing an additional 65,318 shares in the last quarter. National Bank of Canada FI increased its holdings in Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company's stock valued at $21,726,000 after buying an additional 51,637 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company's stock valued at $827,000 after buying an additional 14,376 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company's stock worth $89,723,000 after buying an additional 11,813 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of SLB traded up $0.43 during trading hours on Wednesday, reaching $43.53. 8,327,622 shares of the company traded hands, compared to its average volume of 11,230,699. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $61.47 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69. The stock has a fifty day simple moving average of $42.53 and a 200 day simple moving average of $44.61.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter last year, the company earned $0.78 earnings per share. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts predict that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger's payout ratio is 35.37%.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the firm's stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SLB has been the subject of several recent analyst reports. Bank of America reduced their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Stifel Nicolaus reaffirmed a "buy" rating and set a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. JPMorgan Chase & Co. lowered their target price on shares of Schlumberger from $64.00 to $60.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 1st. TD Cowen decreased their price target on shares of Schlumberger from $68.00 to $65.00 and set a "buy" rating for the company in a research note on Monday, October 21st. Finally, Dbs Bank assumed coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a "buy" rating and a $64.50 target price for the company. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Schlumberger has an average rating of "Moderate Buy" and an average price target of $60.97.

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.