Manning & Napier Advisors LLC Sells 19,546 Shares of SLB Limited $SLB

Manning & Napier Advisors LLC decreased its holdings in shares of SLB Limited (NYSE:SLB) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,903 shares of the oil and gas company’s stock after selling 19,546 shares during the quarter. Manning & Napier Advisors LLC’s holdings in SLB were worth $6,318,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ballentine Partners LLC boosted its stake in shares of SLB by 2.2% during the fourth quarter. Ballentine Partners LLC now owns 10,288 shares of the oil and gas company’s stock valued at $395,000 after purchasing an additional 218 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its stake in shares of SLB by 3.0% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 8,281 shares of the oil and gas company’s stock valued at $318,000 after buying an additional 238 shares during the period. Avidian Wealth Enterprises LLC raised its holdings in SLB by 1.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,574 shares of the oil and gas company’s stock valued at $636,000 after buying an additional 254 shares during the last quarter. apricus wealth LLC boosted its position in SLB by 0.3% during the 4th quarter. apricus wealth LLC now owns 84,740 shares of the oil and gas company’s stock worth $3,252,000 after buying an additional 270 shares during the period. Finally, Private Trust Co. NA grew its holdings in SLB by 9.2% during the 4th quarter. Private Trust Co. NA now owns 3,277 shares of the oil and gas company’s stock worth $126,000 after acquiring an additional 277 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at SLB

In other news, Director La Chevardiere Patrick De sold 2,000 shares of SLB stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total value of $108,660.00. Following the completion of the sale, the director owned 16,953 shares in the company, valued at $921,056.49. The trade was a 10.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steve Matthew Gassen sold 53,379 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $56.18, for a total transaction of $2,998,832.22. Following the transaction, the executive vice president directly owned 47,421 shares in the company, valued at approximately $2,664,111.78. This represents a 52.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. TD Cowen lifted their target price on SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Argus upgraded SLB to a “strong-buy” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. lifted their price objective on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Loop Capital set a $48.00 target price on SLB in a report on Tuesday, January 27th. Finally, Sanford C. Bernstein raised their price target on shares of SLB from $52.30 to $56.10 and gave the stock an “outperform” rating in a report on Thursday, March 12th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, SLB currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.95.

SLB Stock Performance

Shares of SLB stock opened at $53.21 on Friday. The business has a 50-day moving average price of $50.88 and a two-hundred day moving average price of $44.92. SLB Limited has a 1-year low of $31.64 and a 1-year high of $57.20. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. The company has a market cap of $79.55 billion, a P/E ratio of 23.24, a PEG ratio of 3.75 and a beta of 0.72.

SLB (NYSE:SLB) last announced its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the business earned $0.72 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that SLB Limited will post 2.61 EPS for the current year.

SLB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.18 annualized dividend and a yield of 2.2%. SLB’s payout ratio is 51.53%.

SLB Profile

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.