Schlumberger (NYSE:SLB) Announces Quarterly Earnings Results

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

Schlumberger Trading Down 2.2 %

NYSE:SLB opened at $49.84 on Friday. The stock has a market capitalization of $71.14 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 0.97 and a beta of 1.60. Schlumberger has a 1 year low of $42.73 and a 1 year high of $62.12. The stock has a fifty day moving average price of $51.62 and a two-hundred day moving average price of $52.43. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.21%. Schlumberger’s payout ratio is 37.67%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SLB. Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research note on Wednesday, April 3rd. Bank of America raised 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. Royal Bank of Canada upped their price target on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Susquehanna reissued a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 8th. Finally, Barclays reduced their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.31.

Insiders Place Their Bets

In other news, EVP Mogharbel Khaled Al sold 38,570 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total value of $1,944,699.40. Following the completion of the transaction, the executive vice president now owns 386,841 shares in the company, valued at approximately $19,504,523.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Schlumberger news, VP Kevin Fyfe sold 20,223 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $52.05, for a total transaction of $1,052,607.15. Following the sale, the vice president now directly owns 31,198 shares in the company, valued at $1,623,855.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total value of $1,944,699.40. Following the completion of the transaction, 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. In the last ninety days, insiders have sold 172,191 shares of company stock worth $8,636,322. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Several institutional investors and hedge funds have recently made changes to their positions in SLB. Norges Bank purchased a new position in Schlumberger during the 4th quarter valued at about $1,008,286,000. Price T Rowe Associates Inc. MD grew its position in shares of Schlumberger by 200.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,736,684 shares of the oil and gas company’s stock valued at $527,173,000 after purchasing an additional 7,158,943 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Schlumberger by 25.9% during the 4th quarter. Legal & General Group Plc now owns 11,742,455 shares of the oil and gas company’s stock worth $611,077,000 after purchasing an additional 2,412,610 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Schlumberger by 179.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,736,004 shares of the oil and gas company’s stock worth $113,024,000 after purchasing an additional 1,756,000 shares during the last quarter. Finally, 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 buying an additional 1,753,108 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.