Jefferies Group Research Analysts Cut Earnings Estimates for Schlumberger (SLB)

Schlumberger (NYSE:SLB) – Research analysts at Jefferies Group lowered their Q1 2018 earnings estimates for shares of Schlumberger in a report released on Wednesday, April 4th. Jefferies Group analyst B. Handler now anticipates that the oil and gas company will post earnings per share of $0.37 for the quarter, down from their previous forecast of $0.40. Jefferies Group has a “Buy” rating and a $85.00 price objective on the stock. Jefferies Group also issued estimates for Schlumberger’s Q2 2018 earnings at $0.46 EPS, Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $1.95 EPS and FY2020 earnings at $4.60 EPS.

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Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The business had revenue of $8.18 billion for the quarter, compared to analysts’ expectations of $8.12 billion. During the same period in the previous year, the company posted $0.27 EPS. Schlumberger’s revenue was up 15.1% on a year-over-year basis.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley set a $81.00 price target on shares of Schlumberger and gave the company a “buy” rating in a report on Thursday, January 18th. Cowen set a $85.00 price target on shares of Schlumberger and gave the company a “buy” rating in a report on Thursday, January 11th. B. Riley set a $80.00 price target on shares of Schlumberger and gave the company a “buy” rating in a report on Wednesday, January 3rd. Susquehanna Bancshares set a $88.00 price target on shares of Schlumberger and gave the company a “buy” rating in a report on Monday, January 22nd. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $86.00 price objective (up previously from $71.00) on shares of Schlumberger in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $81.23.

Schlumberger stock opened at $64.36 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 1.21. Schlumberger has a 12 month low of $61.02 and a 12 month high of $80.89. The firm has a market cap of $89,692.70, a PE ratio of 42.91, a P/E/G ratio of 5.11 and a beta of 1.05.

A number of institutional investors have recently added to or reduced their stakes in the business. Meyer Handelman Co. raised its position in shares of Schlumberger by 12.3% during the third quarter. Meyer Handelman Co. now owns 232,113 shares of the oil and gas company’s stock valued at $16,193,000 after buying an additional 25,494 shares during the last quarter. WFG Advisors LP raised its position in shares of Schlumberger by 51.5% during the second quarter. WFG Advisors LP now owns 11,332 shares of the oil and gas company’s stock valued at $746,000 after buying an additional 3,853 shares during the last quarter. Randolph Co Inc acquired a new position in shares of Schlumberger during the fourth quarter valued at about $10,771,000. First Eagle Investment Management LLC raised its position in shares of Schlumberger by 8.6% during the third quarter. First Eagle Investment Management LLC now owns 17,406,016 shares of the oil and gas company’s stock valued at $1,214,244,000 after buying an additional 1,380,252 shares during the last quarter. Finally, Clinton Group Inc. raised its position in shares of Schlumberger by 448.4% during the second quarter. Clinton Group Inc. now owns 110,621 shares of the oil and gas company’s stock valued at $7,283,000 after buying an additional 90,448 shares during the last quarter. 79.90% of the stock is owned by hedge funds and other institutional investors.

In other Schlumberger news, CFO Simon Ayat sold 75,000 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total transaction of $5,914,500.00. Following the completion of the transaction, the chief financial officer now owns 138,827 shares of the company’s stock, valued at approximately $10,947,897.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Howard Guild sold 25,000 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $78.26, for a total transaction of $1,956,500.00. Following the transaction, the insider now directly owns 22,410 shares of the company’s stock, valued at approximately $1,753,806.60. The disclosure for this sale can be found here. In the last three months, insiders have acquired 18,000 shares of company stock valued at $1,163,650. Company insiders own 0.48% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Wednesday, February 7th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Tuesday, February 6th. Schlumberger’s dividend payout ratio is 133.33%.

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About Schlumberger

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

Earnings History and Estimates for Schlumberger (NYSE:SLB)

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