Schlumberger (NYSE:SLB) Posts Earnings Results, Hits Estimates

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

Schlumberger Price Performance

Shares of SLB opened at $49.85 on Friday. Schlumberger has a twelve month low of $42.73 and a twelve month high of $62.12. The firm’s fifty day simple moving average is $51.62 and its 200-day simple moving average is $52.39. The firm has a market capitalization of $71.16 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.95 and a beta of 1.60. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.21%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity

In related news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the transaction, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the transaction, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,191 shares of company stock worth $8,636,322. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SLB. Acadian Asset Management LLC purchased a new position in Schlumberger during the 1st quarter worth $25,000. Coppell Advisory Solutions LLC purchased a new position in Schlumberger during the 2nd quarter worth $27,000. Tyler Stone Wealth Management purchased a new stake in shares of Schlumberger in the second quarter valued at about $33,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Schlumberger in the fourth quarter valued at about $35,000. Finally, Worth Asset Management LLC acquired a new stake in shares of Schlumberger in the first quarter valued at about $42,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.