Prevail Innovative Wealth Advisors LLC Has $6.27 Million Holdings in Schlumberger Limited (NYSE:SLB)

Prevail Innovative Wealth Advisors LLC increased its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 133.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 163,532 shares of the oil and gas company's stock after acquiring an additional 93,541 shares during the period. Schlumberger comprises about 1.8% of Prevail Innovative Wealth Advisors LLC's investment portfolio, making the stock its 11th biggest position. Prevail Innovative Wealth Advisors LLC's holdings in Schlumberger were worth $6,270,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company's stock valued at $3,808,476,000 after acquiring an additional 528,279 shares during the period. Geode Capital Management LLC increased its position in shares of Schlumberger by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company's stock worth $1,195,290,000 after purchasing an additional 239,966 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in Schlumberger by 1.2% during the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company's stock valued at $1,067,254,000 after purchasing an additional 343,261 shares during the last quarter. Norges Bank acquired a new position in Schlumberger in the fourth quarter valued at about $735,398,000. Finally, Boston Partners grew its stake in Schlumberger by 9.9% during the fourth quarter. Boston Partners now owns 15,529,159 shares of the oil and gas company's stock worth $597,356,000 after buying an additional 1,405,186 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Remove Ads

Insider Activity

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares of the company's stock, valued at $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 315,905 shares of company stock worth $13,609,283 in the last quarter. Corporate insiders own 0.26% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SLB shares. Stifel Nicolaus cut their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Monday, December 23rd. Atb Cap Markets downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Citigroup boosted their price objective on Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They issued a "neutral" rating and a $47.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target 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. Six 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $55.69.

Schlumberger Stock Down 6.8 %

SLB stock traded down $2.87 during mid-day trading on Thursday, hitting $39.32. 21,076,980 shares of the company were exchanged, compared to its average volume of 12,259,230. The firm has a market cap of $53.47 billion, a P/E ratio of 12.64, a P/E/G ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The firm's 50 day simple moving average is $41.23 and its 200 day simple moving average is $41.50.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $0.86 earnings per share. On average, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.90%. Schlumberger's payout ratio is 36.66%.

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.