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

Schlumberger (NYSE:SLB) issued its quarterly earnings results on Friday. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75, Yahoo Finance reports. The business had revenue of $8.71 billion for 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%. Schlumberger’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share.

Schlumberger Price Performance

Schlumberger stock opened at $49.85 on Friday. Schlumberger has a 52 week low of $42.73 and a 52 week high of $62.12. The business has a 50-day simple moving average of $51.62 and a 200 day simple moving average of $52.39. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The stock has a market cap of $71.16 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.95 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. Stockholders of record on Wednesday, June 5th will be given a $0.275 dividend. This is a boost 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 payout ratio is 36.54%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SLB. HSBC restated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Wednesday, April 3rd. Wells Fargo & Company boosted their target price on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Susquehanna restated a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a research note on Monday, April 8th. Finally, Royal Bank of Canada boosted their target price on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. One 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, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $70.31.

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 6,250 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 249,182 shares in the company, valued at $13,151,825.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Stephane Biguet sold 6,250 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 249,182 shares in the company, valued at $13,151,825.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Abdellah Merad sold 50,000 shares of the business’s 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 owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock worth $8,636,322 over the last ninety days. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Several hedge funds have recently added to or reduced their stakes in SLB. Acadian Asset Management LLC bought a new stake in Schlumberger during the first quarter worth about $25,000. Cetera Investment Advisers lifted its stake in Schlumberger by 35.3% during the first quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock worth $1,623,000 after purchasing an additional 10,240 shares during the last quarter. Dakota Wealth Management bought a new stake in Schlumberger during the first quarter worth about $232,000. Sequoia Financial Advisors LLC bought a new stake in shares of Schlumberger in the 1st quarter valued at about $419,000. Finally, Baird Financial Group Inc. lifted its stake in shares of Schlumberger by 2.9% in the 1st quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company’s stock valued at $4,627,000 after acquiring an additional 3,209 shares during 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.