SLB Limited $SLB Shares Sold by Kornitzer Capital Management Inc. KS

Key Points

• Kornitzer Capital Management Inc. KS trimmed its stake in SLB by 2.8% in Q4, selling 40,236 shares and now holds 1,387,815 shares worth about $53.26 million, making SLB its 21st largest position (1.1% of the portfolio).
• SLB reported Q earnings of $0.52 per share (beating estimates by $0.01) on $8.72 billion in revenue (slightly below estimates) with revenue up 2.7% year-over-year, and announced a quarterly dividend of $0.295 ($1.18 annualized, ~2.1% yield) payable July 9.
• Analysts have been raising targets and ratings recently, leaving SLB with a MarketBeat consensus of Moderate Buy and a consensus price target of $58.95.

Kornitzer Capital Management Inc. KS lessened its stake in shares of SLB Limited (NYSE:SLB - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,387,815 shares of the oil and gas company's stock after selling 40,236 shares during the quarter. SLB accounts for 1.1% of Kornitzer Capital Management Inc. KS's investment portfolio, making the stock its 21st biggest position. Kornitzer Capital Management Inc. KS owned 0.09% of SLB worth $53,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of SLB. Root Financial Partners LLC acquired a new position in shares of SLB during the third quarter worth about $29,000. Strengthening Families & Communities LLC acquired a new position in shares of SLB during the third quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of SLB during the fourth quarter worth about $31,000. Steph & Co. lifted its stake in shares of SLB by 97.5% during the fourth quarter. Steph & Co. now owns 798 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 394 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in shares of SLB during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 81.99% of the company's stock.

SLB Stock Up 0.2%

Shares of SLB stock opened at $57.00 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm has a market cap of $85.65 billion, a P/E ratio of 24.89, a P/E/G ratio of 4.02 and a beta of 0.69. SLB Limited has a fifty-two week low of $31.64 and a fifty-two week high of $57.20. The business has a 50-day moving average price of $50.67 and a 200 day moving average price of $44.29.

SLB (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. SLB had a return on equity of 15.54% and a net margin of 9.26%.SLB's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 earnings per share. On average, sell-side analysts forecast that SLB Limited will post 2.6 earnings per share for the current fiscal year.

SLB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be issued a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 2.1%. SLB's dividend payout ratio is 51.53%.

Analyst Ratings Changes

A number of brokerages have commented on SLB. Weiss Ratings upgraded SLB from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, April 22nd. Susquehanna boosted their price target on SLB from $60.00 to $65.00 and gave the stock a "positive" rating in a research note on Monday. TD Cowen boosted their price target on SLB from $55.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Stifel Nicolaus boosted their price target on SLB from $56.00 to $61.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Finally, BMO Capital Markets boosted their price target on SLB from $55.00 to $63.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SLB currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.95.

Insider Buying and Selling at SLB

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the sale, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

SLB Profile

SLB NYSE: SLB, historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB's product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.

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