Schlumberger (NYSE:SLB) Announces Earnings Results

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

Schlumberger Stock Performance

Shares of SLB stock opened at $49.85 on Friday. The stock has a fifty day moving average of $51.62 and a 200 day moving average of $52.39. Schlumberger has a 52 week low of $42.73 and a 52 week high of $62.12. The firm has a market capitalization of $71.16 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.95 and a beta of 1.60. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51.

Schlumberger Increases Dividend

The firm 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 2.21%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SLB. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Wednesday, April 3rd. HSBC reiterated a “buy” rating and set a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. Wells Fargo & Company increased their price target on shares of Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. Finally, Bank of America increased their price objective on Schlumberger from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.31.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a legal 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 stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $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 owned by company insiders.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors have recently added to or reduced their stakes in SLB. Norges Bank bought a new position in Schlumberger in the fourth quarter worth $1,008,286,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Schlumberger by 200.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,736,684 shares of the oil and gas company’s stock valued at $527,173,000 after acquiring an additional 7,158,943 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Schlumberger by 25.9% during the fourth quarter. Legal & General Group Plc now owns 11,742,455 shares of the oil and gas company’s stock valued at $611,077,000 after acquiring an additional 2,412,610 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Schlumberger by 179.2% during the first quarter. Renaissance Technologies LLC now owns 2,736,004 shares of the oil and gas company’s stock valued at $113,024,000 after acquiring an additional 1,756,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Schlumberger by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after acquiring an additional 1,753,108 shares in the last quarter. 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.