Connor Clark & Lunn Investment Management Ltd. Purchases 1,533,366 Shares of Schlumberger Limited (NYSE:SLB)

Connor Clark & Lunn Investment Management Ltd. raised its position in Schlumberger Limited (NYSE:SLB) by 196.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,312,304 shares of the oil and gas company’s stock after buying an additional 1,533,366 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Schlumberger were worth $88,654,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky raised its position in shares of Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after acquiring an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares during the last quarter. Victory Capital Management Inc. raised its position 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 acquiring an additional 65,318 shares during the last quarter. Bryn Mawr Capital Management LLC increased its holdings in Schlumberger by 502.6% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock worth $7,592,000 after purchasing an additional 165,162 shares in the last quarter. Finally, Narwhal Capital Management increased its holdings in Schlumberger by 225.5% in the fourth quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company’s stock worth $2,862,000 after purchasing an additional 51,715 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Down 0.0 %

Shares of NYSE:SLB opened at $40.06 on Thursday. The stock has a market cap of $54.48 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 10.10 and a beta of 1.47. 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 Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The business’s 50 day moving average is $40.87 and its 200 day moving average is $41.56.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 earnings per share. 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 business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.85%. Schlumberger’s payout ratio is presently 36.66%.

Insider Activity at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock valued at $12,546,660 over the last 90 days. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SLB shares. Wells Fargo & Company lowered their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Citigroup lifted their target price on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Stifel Nicolaus lowered their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

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.