Schlumberger (NYSE:SLB) Issues Quarterly Earnings Results, Hits Expectations

Schlumberger (NYSE:SLB) issued its quarterly earnings data 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 return on equity of 21.97% and a net margin of 12.68%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period in the prior year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis.

Schlumberger Stock Performance

NYSE SLB opened at $49.85 on Friday. 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 firm has a market capitalization of $71.16 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 0.95 and a beta of 1.60. The firm’s 50 day simple moving average is $51.62 and its 200 day simple moving average is $52.39. Schlumberger has a 1 year low of $42.73 and a 1 year high of $62.12.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This is a positive change 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 currently 36.54%.

Analysts Set New Price Targets

Several research firms recently commented on SLB. Barclays decreased their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Bank of America increased their target price on shares of Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Stifel Nicolaus lifted their price target on shares of Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Susquehanna reissued a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research report on Monday, April 8th. Finally, 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. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.31.

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now owns 249,182 shares in the company, valued at approximately $13,151,825.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,191 shares of company stock worth $8,636,322. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Schlumberger by 1.3% in the 4th 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 purchasing an additional 1,753,108 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Schlumberger by 1.6% during the first quarter. Geode Capital Management LLC now owns 25,347,967 shares of the oil and gas company’s stock valued at $1,241,319,000 after acquiring an additional 401,606 shares during the last quarter. Norges Bank bought a new position in shares of Schlumberger during the fourth quarter valued at $1,008,286,000. Morgan Stanley raised its stake in shares of Schlumberger by 0.8% during the fourth quarter. Morgan Stanley now owns 15,092,682 shares of the oil and gas company’s stock valued at $806,855,000 after acquiring an additional 114,462 shares during the last quarter. Finally, Legal & General Group Plc raised its stake 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 during the last quarter. 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.