Prevail Innovative Wealth Advisors LLC Increases Holdings in Schlumberger Limited (NYSE:SLB)

Prevail Innovative Wealth Advisors LLC raised its position in Schlumberger Limited (NYSE:SLB - Free Report) by 15.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 188,482 shares of the oil and gas company's stock after buying an additional 24,950 shares during the period. Schlumberger comprises approximately 2.1% of Prevail Innovative Wealth Advisors LLC's holdings, making the stock its 5th largest holding. Prevail Innovative Wealth Advisors LLC's holdings in Schlumberger were worth $7,879,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SLB. Alpine Bank Wealth Management acquired a new stake in shares of Schlumberger in the 1st quarter valued at about $34,000. True Wealth Design LLC raised its stake in shares of Schlumberger by 584.7% in the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company's stock valued at $38,000 after purchasing an additional 842 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Schlumberger in the 1st quarter valued at about $38,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at about $40,000. Finally, Sound Income Strategies LLC raised its stake in shares of Schlumberger by 265.4% in the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company's stock valued at $40,000 after purchasing an additional 698 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Down 2.8%

Schlumberger stock opened at $36.28 on Tuesday. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The stock has a market capitalization of $49.34 billion, a P/E ratio of 12.30, a PEG ratio of 9.93 and a beta of 1.01. The stock has a 50-day simple moving average of $34.82 and a 200 day simple moving average of $37.62.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The company's revenue for the quarter was down 2.5% on a year-over-year basis. Analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.285 per share. The ex-dividend date was Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.14%. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

Analysts Set New Price Targets

Several research firms have issued reports on SLB. JPMorgan Chase & Co. dropped their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Barclays decreased their price objective on Schlumberger from $48.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Piper Sandler decreased their price objective on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Stifel Nicolaus decreased their price objective on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Susquehanna decreased their price objective on Schlumberger from $46.00 to $44.00 and set a "positive" rating for the company in a report on Tuesday, July 1st. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and an average price target of $50.79.

Insider Transactions at Schlumberger

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

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.

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