Schlumberger (NYSE:SLB) Posts Quarterly Earnings Results, Hits Estimates

Schlumberger (NYSE:SLB) issued its earnings results on Friday. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75, RTT News reports. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS.

Schlumberger Trading Down 1.6 %

SLB stock opened at $50.15 on Friday. Schlumberger has a 12-month low of $42.73 and a 12-month high of $62.12. The business’s 50-day moving average is $51.56 and its 200 day moving average is $52.48. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The stock has a market cap of $71.58 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.97 and a beta of 1.60.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a $0.275 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.19%. Schlumberger’s dividend payout ratio (DPR) is currently 37.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Royal Bank of Canada raised their price objective on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Stifel Nicolaus upped their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Benchmark reissued a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Wednesday, April 3rd. Finally, Bank of America boosted their target price on shares of Schlumberger from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $70.31.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders sold 172,191 shares of company stock valued at $8,636,322 over the last quarter. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors have recently added to or reduced their stakes in SLB. Acadian Asset Management LLC purchased a new stake in shares of Schlumberger in the first quarter valued at about $25,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Schlumberger in the 2nd quarter valued at approximately $27,000. Tyler Stone Wealth Management acquired a new stake in shares of Schlumberger during the 2nd quarter worth approximately $33,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at approximately $35,000. Finally, Worth Asset Management LLC acquired a new position in Schlumberger in the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Company 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.