Mackenzie Financial Corp Has $12.13 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Key Points

• Mackenzie Financial Corp reduced its stake in Schlumberger Limited by 23.6%, owning 290,224 shares valued at approximately $12.13 million.
• Analysts have varied opinions on Schlumberger, with price targets adjusted down by firms like Piper Sandler and Morgan Stanley, while UBS Group increased their target, indicating a consensus rating of "Moderate Buy."
• Schlumberger recently reported quarterly earnings showing a 6.5% decline in revenue year-over-year, with earnings per share of $0.74, exceeding estimates by $0.01.

Mackenzie Financial Corp lessened its position in Schlumberger Limited (NYSE:SLB - Free Report) by 23.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 290,224 shares of the oil and gas company's stock after selling 89,743 shares during the quarter. Mackenzie Financial Corp's holdings in Schlumberger were worth $12,131,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in Schlumberger by 7.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company's stock worth $2,913,312,000 after purchasing an additional 5,225,828 shares during the last quarter. Deutsche Bank AG grew its position in Schlumberger by 12.2% during the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company's stock worth $1,101,804,000 after purchasing an additional 3,119,543 shares during the last quarter. Northern Trust Corp grew its position in Schlumberger by 9.4% during the 4th quarter. Northern Trust Corp now owns 13,817,667 shares of the oil and gas company's stock worth $529,769,000 after purchasing an additional 1,192,399 shares during the last quarter. Sanders Capital LLC grew its position in Schlumberger by 1.9% during the 4th quarter. Sanders Capital LLC now owns 10,697,985 shares of the oil and gas company's stock worth $410,161,000 after purchasing an additional 203,766 shares during the last quarter. Finally, Invesco Ltd. grew its position in Schlumberger by 8.8% during the 4th quarter. Invesco Ltd. now owns 7,377,240 shares of the oil and gas company's stock worth $282,843,000 after purchasing an additional 596,008 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research reports. Susquehanna decreased their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. UBS Group lifted their price objective on shares of Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Stifel Nicolaus decreased their target price on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Barclays decreased their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Finally, Wells Fargo & Company cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and an average price target of $49.28.

Schlumberger Trading Up 1.8%

SLB traded up $0.60 on Tuesday, reaching $33.48. 5,974,849 shares of the company's stock were exchanged, compared to its average volume of 16,632,699. The company's 50 day moving average is $34.76 and its 200-day moving average is $37.11. The company has a market cap of $45.23 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 9.17 and a beta of 1.03. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. The firm had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%. Schlumberger's quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. Equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.4%. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Insider Transactions at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director directly owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by company insiders.

Schlumberger Company 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.