Prevail Innovative Wealth Advisors LLC Purchases 93,541 Shares of Schlumberger Limited (NYSE:SLB)

Prevail Innovative Wealth Advisors LLC boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 133.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,532 shares of the oil and gas company’s stock after acquiring an additional 93,541 shares during the quarter. Schlumberger accounts for approximately 1.8% of Prevail Innovative Wealth Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Prevail Innovative Wealth Advisors LLC’s holdings in Schlumberger were worth $6,270,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Schlumberger in the fourth quarter valued at about $735,398,000. Pacer Advisors Inc. raised its holdings in Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after acquiring an additional 12,938,082 shares during the period. Clearbridge Investments LLC lifted its position in Schlumberger by 43,028.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company’s stock worth $101,708,000 after acquiring an additional 2,646,653 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Schlumberger by 196.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,304 shares of the oil and gas company’s stock worth $88,654,000 after acquiring an additional 1,533,366 shares during the period. Finally, Boston Partners grew its position in shares of Schlumberger by 9.9% in the fourth quarter. Boston Partners now owns 15,529,159 shares of the oil and gas company’s stock valued at $597,356,000 after purchasing an additional 1,405,186 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Down 0.6 %

SLB stock opened at $41.87 on Friday. The firm has a market capitalization of $56.93 billion, a PE ratio of 13.46, a P/E/G ratio of 10.10 and a beta of 1.47. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.65. The stock’s 50 day moving average is $41.29 and its 200-day moving average is $41.46.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same period last year, the business earned $0.86 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.72%. Schlumberger’s payout ratio is currently 36.66%.

Insider Buying and Selling at Schlumberger

In related news, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares of the company’s stock, valued at approximately $496,808. This trade represents a 38.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the transaction, the insider now owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock worth $12,546,660 over the last three months. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SLB has been the subject of a number of research reports. Piper Sandler initiated coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Wells Fargo & Company dropped their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Finally, Evercore ISI reissued an “in-line” rating and issued a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.69.

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.