Manning & Napier Advisors LLC Has $14.82 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Manning & Napier Advisors LLC decreased its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 354,609 shares of the oil and gas company's stock after selling 18,579 shares during the period. Manning & Napier Advisors LLC's holdings in Schlumberger were worth $14,823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sound Income Strategies LLC grew its position in Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock worth $40,000 after acquiring an additional 698 shares during the last quarter. True Wealth Design LLC raised its stake in Schlumberger by 584.7% during the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock worth $38,000 after buying an additional 842 shares during the period. Mpwm Advisory Solutions LLC acquired a new position in Schlumberger during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp acquired a new position in Schlumberger during the 4th quarter worth approximately $46,000. Finally, Heck Capital Advisors LLC acquired a new position in Schlumberger during the 4th quarter worth approximately $47,000. Institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SLB. Jefferies Financial Group lowered their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Piper Sandler reduced their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Morgan Stanley reduced their price objective on Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Wells Fargo & Company reduced their price objective on Schlumberger from $46.00 to $43.00 and set an "overweight" rating for the company in a report on Thursday, June 5th. Finally, Susquehanna reduced their price objective on Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.38.

Schlumberger Stock Down 0.1%

NYSE SLB opened at $35.82 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. The stock has a market capitalization of $48.71 billion, a PE ratio of 12.14, a PEG ratio of 9.29 and a beta of 1.01. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94. The business's 50-day moving average is $34.54 and its 200 day moving average is $38.08.

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

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be given a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.18%. Schlumberger's dividend payout ratio is currently 38.64%.

Insider Transactions at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director now directly owns 23,525 shares in the company, valued at approximately $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company's stock.

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.

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