Schlumberger (NYSE:SLB) Releases Earnings Results, Hits Expectations

Schlumberger (NYSE:SLB) announced its quarterly earnings data on Friday. The oil and gas company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75, RTT News reports. The business had revenue of $8.71 billion during 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 revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share.

Schlumberger Trading Down 1.6 %

Shares of Schlumberger stock opened at $50.15 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00. Schlumberger has a 1 year low of $42.73 and a 1 year high of $62.12. The firm has a market cap of $71.58 billion, a PE ratio of 17.45, a PEG ratio of 0.97 and a beta of 1.60. The company has a 50 day simple moving average of $51.56 and a two-hundred day simple moving average of $52.48.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.19%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is 37.67%.

Insider Transactions at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 38,570 shares of Schlumberger stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the completion of the sale, the executive vice president now directly owns 386,841 shares of the company’s stock, valued at approximately $19,504,523.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 38,570 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total value of $1,944,699.40. Following the completion of the sale, the executive vice president now owns 386,841 shares of the company’s stock, valued at approximately $19,504,523.22. The disclosure for this sale can be found here. Insiders have sold 172,191 shares of company stock valued at $8,636,322 in the last quarter. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in Schlumberger in the first quarter worth $25,000. Cetera Investment Advisers increased its holdings in shares of Schlumberger by 35.3% in the first quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock worth $1,623,000 after buying an additional 10,240 shares during the period. Dakota Wealth Management purchased a new position in shares of Schlumberger in 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. boosted its holdings in Schlumberger by 2.9% during 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 period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SLB shares. HSBC reiterated a “buy” rating and set a $71.00 price target on shares of Schlumberger in a research note on Thursday, April 4th. Susquehanna reiterated a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a research note on Monday, April 8th. Wells Fargo & Company upped their price target on shares of Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Barclays reduced their price objective on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Royal Bank of Canada increased their target price on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.31.

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.