Prevail Innovative Wealth Advisors LLC Invests $2.88 Million in Schlumberger Limited (NYSE:SLB)

Prevail Innovative Wealth Advisors LLC acquired a new stake in Schlumberger Limited (NYSE:SLB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,129 shares of the oil and gas company’s stock, valued at approximately $2,884,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Advisory Services Inc. increased its holdings in shares of Schlumberger by 25.5% during the 2nd quarter. Meeder Advisory Services Inc. now owns 36,432 shares of the oil and gas company’s stock worth $1,719,000 after buying an additional 7,412 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in Schlumberger by 16.5% during the second quarter. Oppenheimer & Co. Inc. now owns 138,341 shares of the oil and gas company’s stock worth $6,527,000 after acquiring an additional 19,636 shares during the last quarter. Vanguard Capital Wealth Advisors purchased a new stake in Schlumberger in the second quarter valued at $463,000. Perritt Capital Management Inc lifted its stake in shares of Schlumberger by 8.9% in the 2nd quarter. Perritt Capital Management Inc now owns 8,901 shares of the oil and gas company’s stock valued at $420,000 after purchasing an additional 731 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Schlumberger by 30.1% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 3,258 shares of the oil and gas company’s stock valued at $152,000 after purchasing an additional 753 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SLB. Barclays reduced their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. UBS Group decreased their price objective on shares of Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Citigroup decreased their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock valued at $9,048,624 over the last three months. 0.26% of the stock is owned by corporate insiders.

Schlumberger Price Performance

Schlumberger stock opened at $39.80 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $45.02 and a 200-day simple moving average of $47.70. The stock has a market cap of $56.51 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.84 and a beta of 1.51. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $62.03.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. Equities analysts expect that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

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.