Kornitzer Capital Management Inc. KS Has $60.42 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Kornitzer Capital Management Inc. KS grew its position in Schlumberger Limited (NYSE:SLB - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,575,758 shares of the oil and gas company's stock after purchasing an additional 36,574 shares during the period. Schlumberger comprises about 1.2% of Kornitzer Capital Management Inc. KS's portfolio, making the stock its 13th largest position. Kornitzer Capital Management Inc. KS owned approximately 0.11% of Schlumberger worth $60,415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger in the 3rd quarter valued at $29,000. YANKCOM Partnership acquired a new position in Schlumberger in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger in the fourth quarter worth about $32,000. Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth about $34,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Schlumberger during the 3rd quarter valued at about $37,000. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction on 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 of the company's stock, valued at $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the 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 transaction, the executive vice president now directly owns 184,626 shares in the company, valued at $8,140,160.34. The trade was a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,782 shares of company stock worth $11,442,229 over the last 90 days. Company insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research analyst reports. Evercore ISI restated an "in-line" rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a "neutral" rating and a $47.00 price objective on the stock. Barclays reduced their target price on shares of Schlumberger from $61.00 to $53.00 and set an "overweight" rating for the company in a research note on Wednesday, December 18th. BMO Capital Markets dropped their price target on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Wells Fargo & Company cut their price target on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and an average target price of $55.81.

Schlumberger Stock Down 2.1 %

Shares of NYSE:SLB traded down $0.87 during midday trading on Friday, hitting $41.73. The stock had a trading volume of 13,669,641 shares, compared to its average volume of 14,156,785. The company has a market cap of $58.45 billion, a P/E ratio of 13.42, a PEG ratio of 10.00 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 business's 50-day simple moving average is $40.20 and its 200-day simple moving average is $41.91. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

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

Schlumberger Increases Dividend

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

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.