Manning Napier Advisors buys $516,166,878 stake in Schlumberger Limited. (SLB)

Schlumberger Limited. (SLB) : Manning Napier Advisors scooped up 261,635 additional shares in Schlumberger Limited. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 14, 2016. The investment management firm now holds a total of 6,768,514 shares of Schlumberger Limited. which is valued at $516,166,878.Schlumberger Limited. makes up approximately 3.21% of Manning Napier Advisors’s portfolio.

Schlumberger Limited. opened for trading at $74.74 and hit $77.5 on the upside on Monday, eventually ending the session at $77.45, with a gain of 1.56% or 1.19 points. The heightened volatility saw the trading volume jump to 59,47,529 shares. Company has a market cap of $97,306 M.

Other Hedge Funds, Including , Quotient Investors reduced its stake in SLB by selling 6,899 shares or 47.26% in the most recent quarter. The Hedge Fund company now holds 7,700 shares of SLB which is valued at $587,202. Schlumberger Limited. makes up approx 0.21% of Quotient Investors’s portfolio.Independent Portfolio Consultants boosted its stake in SLB in the latest quarter, The investment management firm added 730 additional shares and now holds a total of 15,089 shares of Schlumberger Limited. which is valued at $1,150,687. Schlumberger Limited. makes up approx 0.32% of Independent Portfolio Consultants’s portfolio.Banced Corp reduced its stake in SLB by selling 347 shares or 8.5% in the most recent quarter. The Hedge Fund company now holds 3,736 shares of SLB which is valued at $284,907. Schlumberger Limited. makes up approx 0.49% of Banced Corp’s portfolio.Iowa State Bank boosted its stake in SLB in the latest quarter, The investment management firm added 695 additional shares and now holds a total of 23,841 shares of Schlumberger Limited. which is valued at $1,761,373. Schlumberger Limited. makes up approx 1.00% of Iowa State Bank’s portfolio.Vigilant Capital Management boosted its stake in SLB in the latest quarter, The investment management firm added 215 additional shares and now holds a total of 99,339 shares of Schlumberger Limited. which is valued at $7,339,165. Schlumberger Limited. makes up approx 1.48% of Vigilant Capital Management’s portfolio.

On the company’s financial health, Schlumberger Limited. reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jan 21, 2016. Analyst had a consensus of $0.63. The company had revenue of $7744.00 million for the quarter, compared to analysts expectations of $7786.76 million. The company’s revenue was down -38.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.50 EPS.

Many Wall Street Analysts have commented on Schlumberger Limited.. Schlumberger Limited. was Initiated by Nomura to “Buy” on Apr 8, 2016. Schlumberger Limited. was Resumed by Credit Suisse to “Outperform” on Apr 4, 2016. Goldman Resumed Schlumberger Limited. on Apr 4, 2016 to “Buy”, Price Target of the shares are set at $82.

Schlumberger N.V. is a supplier of technology integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three Groups which include Reservoir Characterization Group which consists of the principal technologies involved in finding and defining hydrocarbon resources; Drilling Group which consists of the principal technologies involved in the drilling and positioning of oil and gas wells and Production Group which consists of the principal technologies involved in the lifetime production of oil and gas reservoirs and includes Well Services Completions Artificial Lift Well Intervention Water Services and the Schlumberger Production Management field production projects.

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