Prime Capital Investment Advisors LLC Sells 5,908 Shares of Schlumberger Limited (NYSE:SLB)

Prime Capital Investment Advisors LLC cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 17.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,910 shares of the oil and gas company’s stock after selling 5,908 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Schlumberger were worth $1,364,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger in the 1st quarter valued at about $27,000. Bruce G. Allen Investments LLC grew its stake in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger during the second quarter valued at approximately $30,000. Manchester Capital Management LLC raised its position in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares during the period. Finally, Riverview Trust Co lifted its holdings in shares of Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Schlumberger Stock Performance

Shares of SLB stock opened at $41.50 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a market cap of $59.32 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.85 and a beta of 1.52. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $61.78. The firm’s 50-day simple moving average is $44.71 and its two-hundred day simple moving average is $47.52.

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

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. TD Cowen upped their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Evercore ISI lifted their price target on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Piper Sandler decreased their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Finally, Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $66.72.

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.