Schlumberger (NYSE:SLB) Announces Earnings Results

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

Schlumberger Trading Down 2.1 %

NYSE SLB opened at $49.85 on Friday. 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 has a twelve month low of $42.73 and a twelve month high of $62.12. The company has a market cap of $71.16 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The business’s fifty day moving average is $51.62 and its 200 day moving average is $52.39.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.21%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SLB. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Wednesday, April 3rd. HSBC reissued a “buy” rating and set a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. Royal Bank of Canada increased their price target on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Wells Fargo & Company upped their target price on Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Finally, Susquehanna restated a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research note on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $70.31.

Insider Activity at Schlumberger

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 transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction dated 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 directly owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders have sold a total of 172,191 shares of company stock valued at $8,636,322 in the last 90 days. 0.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Coppell Advisory Solutions LLC bought a new position in shares of Schlumberger in the 2nd quarter worth about $27,000. Acadian Asset Management LLC bought a new position in shares of Schlumberger in the 1st quarter worth about $25,000. Resurgent Financial Advisors LLC bought a new position in shares of Schlumberger in the 4th quarter worth about $35,000. Tyler Stone Wealth Management bought a new position in shares of Schlumberger in the 2nd quarter worth about $33,000. Finally, Aspire Private Capital LLC raised its position in shares of Schlumberger by 145.4% in the 4th quarter. Aspire Private Capital LLC now owns 741 shares of the oil and gas company’s stock worth $39,613,860,000 after acquiring an additional 439 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

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.