Connor Clark & Lunn Investment Management Ltd. Has $88.65 Million Holdings in Schlumberger Limited (NYSE:SLB)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Schlumberger Limited (NYSE:SLB) by 196.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,312,304 shares of the oil and gas company’s stock after buying an additional 1,533,366 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of Schlumberger worth $88,654,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger in the 3rd quarter valued at approximately $29,000. YANKCOM Partnership bought a new position in Schlumberger during the fourth quarter worth $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at $32,000. Ashton Thomas Securities LLC acquired a new position in shares of Schlumberger in the third quarter valued at $37,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

SLB opened at $40.06 on Thursday. The firm has a market cap of $54.48 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The business’s fifty day moving average is $40.87 and its 200-day moving average is $41.56.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $0.86 EPS. Sell-side analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.85%. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Jefferies Financial Group decreased their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Citigroup upped their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. BMO Capital Markets decreased their price objective on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Finally, Barclays decreased their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Activity at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares of the company’s stock, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock valued at $12,546,660 over the last ninety days. 0.26% of the stock is owned by corporate 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.