Kornitzer Capital Management Inc. KS Sells 11,545 Shares of Schlumberger Limited (NYSE:SLB)

Kornitzer Capital Management Inc. KS reduced its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,564,213 shares of the oil and gas company's stock after selling 11,545 shares during the period. Schlumberger makes up 1.3% of Kornitzer Capital Management Inc. KS's portfolio, making the stock its 11th biggest holding. Kornitzer Capital Management Inc. KS owned about 0.12% of Schlumberger worth $65,384,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SLB. Dynamic Technology Lab Private Ltd lifted its position in Schlumberger by 32.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company's stock valued at $2,737,000 after purchasing an additional 17,405 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Schlumberger by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company's stock worth $1,146,195,000 after acquiring an additional 1,377,134 shares during the last quarter. Scharf Investments LLC lifted its holdings in shares of Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock worth $69,133,000 after acquiring an additional 281,773 shares during the last quarter. Integrated Advisors Network LLC grew its position in Schlumberger by 810.4% in the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company's stock worth $3,142,000 after acquiring an additional 66,907 shares in the last quarter. Finally, Alan B Lancz & Associates Inc. bought a new position in Schlumberger in the first quarter valued at $308,000. Institutional investors own 81.99% of the company's stock.

Schlumberger Trading Up 0.3%

SLB stock traded up $0.10 on Thursday, reaching $34.69. The company's stock had a trading volume of 70,865,313 shares, compared to its average volume of 14,188,654. The firm has a market cap of $47.19 billion, a PE ratio of 11.76, a PEG ratio of 9.38 and a beta of 1.01. The business has a fifty day simple moving average of $34.87 and a two-hundred day simple moving average of $37.59. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter last year, the company posted $0.75 earnings per share. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th were issued a $0.285 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.29%. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

Analyst Upgrades and Downgrades

SLB has been the topic of several recent research reports. Atb Cap Markets upgraded Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. UBS Group upped their target price on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Barclays decreased their price target on shares of Schlumberger from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Wells Fargo & Company cut their price objective on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a research note on Thursday, June 5th. Finally, Piper Sandler reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $50.68.

Insider Buying and Selling

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the transaction, the director owned 23,525 shares of the company's stock, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

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.