Schlumberger (NYSE:SLB) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Schlumberger (NYSE:SLB) posted its quarterly earnings data on Friday. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02, Zacks reports. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9,241,140 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year.

Schlumberger Stock Up 6.1 %

Shares of NYSE SLB opened at $43.58 on Friday. The stock has a market capitalization of $61.54 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.35 and a beta of 1.52. Schlumberger has a 12-month low of $36.52 and a 12-month high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $40.86 and its 200-day moving average price is $42.90.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SLB shares. JPMorgan Chase & Co. lowered their price objective on Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Bank of America dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Evercore ISI restated an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday. Susquehanna dropped their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Finally, Barclays decreased their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.03.

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.