Kornitzer Capital Management Inc. KS Has $64.57 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Kornitzer Capital Management Inc. KS grew its position in Schlumberger Limited (NYSE:SLB - Free Report) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,539,184 shares of the oil and gas company's stock after acquiring an additional 29,504 shares during the period. Schlumberger comprises about 1.2% of Kornitzer Capital Management Inc. KS's portfolio, making the stock its 12th largest holding. Kornitzer Capital Management Inc. KS owned 0.11% of Schlumberger worth $64,569,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SLB. Crescent Grove Advisors LLC acquired a new stake in Schlumberger during the 2nd quarter valued at $257,000. National Bank of Canada FI grew its position in shares of 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 purchasing an additional 51,637 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Schlumberger by 0.6% during the second 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 purchasing an additional 11,813 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Schlumberger by 9.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company's stock worth $43,217,000 after purchasing an additional 64,974 shares during the last quarter. Finally, Townsend Asset Management Corp NC ADV bought a new stake in Schlumberger in the 3rd quarter valued at $2,063,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.26% of the company's stock.

Schlumberger Price Performance

Schlumberger stock traded down $0.53 during mid-day trading on Thursday, reaching $43.24. The company had a trading volume of 15,423,732 shares, compared to its average volume of 11,270,041. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69. The company has a market cap of $61.06 billion, a P/E ratio of 13.92, a P/E/G ratio of 1.42 and a beta of 1.52. The business has a fifty day simple moving average of $42.25 and a 200 day simple moving average of $44.96.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analysts' expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 EPS. On average, equities research analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Wednesday, December 4th. Schlumberger's payout ratio is 35.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SLB. Benchmark reissued a "buy" rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Barclays decreased their target price on shares of Schlumberger from $67.00 to $63.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Evercore ISI dropped their price target on shares of Schlumberger from $74.00 to $62.00 and set an "outperform" rating for the company in a research report on Monday, October 21st. BMO Capital Markets cut their price target on Schlumberger from $60.00 to $58.00 and set an "outperform" rating for the company in a research note on Thursday, October 10th. Finally, Stifel Nicolaus restated a "buy" rating and set a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.