Manning & Napier Advisors LLC Invests $19.21 Million in Schlumberger Limited (NYSE:SLB)

Manning & Napier Advisors LLC purchased a new position in shares of Schlumberger Limited (NYSE:SLB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 407,106 shares of the oil and gas company’s stock, valued at approximately $19,207,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Schlumberger by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock valued at $7,352,771,000 after buying an additional 1,868,688 shares during the last quarter. Capital World Investors grew its stake in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares in the last quarter. Norges Bank bought a new position in Schlumberger in the fourth quarter valued at approximately $1,000,292,000. Finally, Capital International Investors grew its stake in Schlumberger by 0.6% in the fourth quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after purchasing an additional 89,483 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 286,874 shares of company stock worth $14,148,517. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

SLB stock traded down $0.14 during midday trading on Friday, reaching $43.55. 5,389,329 shares of the stock were exchanged, compared to its average volume of 10,932,259. The stock has a market capitalization of $61.83 billion, a PE ratio of 14.47, a P/E/G ratio of 0.92 and a beta of 1.55. Schlumberger Limited has a 52 week low of $42.61 and a 52 week high of $62.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The company has a fifty day moving average price of $46.11 and a 200 day moving average price of $48.76.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the previous year, the company posted $0.72 EPS. Schlumberger’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, analysts expect that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.53%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. BMO Capital Markets reduced their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Evercore ISI lifted their price objective on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $67.56.

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.