Schlumberger (NYSE:SLB) Releases Earnings Results, Meets Expectations

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

Schlumberger Stock Down 2.1 %

SLB stock opened at $49.85 on Friday. The firm has a 50-day moving average price of $51.62 and a 200-day moving average price of $52.39. The stock has a market capitalization of $71.16 billion, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. Schlumberger has a 12 month low of $42.73 and a 12 month high of $62.12. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is 36.54%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Susquehanna reissued a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a research report on Monday, April 8th. 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, April 15th. Wells Fargo & Company upped their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Wednesday, April 3rd. Finally, Stifel Nicolaus upped their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.31.

Insider Activity at Schlumberger

In related news, CAO Howard Guild sold 22,853 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total value of $1,180,585.98. Following the completion of the transaction, the chief accounting officer now owns 22,181 shares in the company, valued at approximately $1,145,870.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related 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 completion of the transaction, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Howard Guild sold 22,853 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total transaction of $1,180,585.98. Following the completion of the transaction, the chief accounting officer now owns 22,181 shares of the company’s stock, valued at approximately $1,145,870.46. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock worth $8,636,322 in the last quarter. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. West Tower Group LLC bought a new position in Schlumberger during the 4th quarter worth approximately $101,000. Harbour Investments Inc. raised its holdings in Schlumberger by 43.8% during the 3rd quarter. Harbour Investments Inc. now owns 1,694 shares of the oil and gas company’s stock worth $99,000 after purchasing an additional 516 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Schlumberger during the 4th quarter worth approximately $80,000. KB Financial Partners LLC acquired a new stake in shares of Schlumberger during the 1st quarter worth approximately $75,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in shares of Schlumberger during the 4th quarter worth approximately $61,000. Institutional investors own 81.99% of the company’s stock.

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.