Q3 2019 EPS Estimates for Schlumberger Limited. (SLB) Cut by Analyst
Schlumberger Limited. (NYSE:SLB) – Stock analysts at Jefferies Financial Group decreased their Q3 2019 earnings per share (EPS) estimates for Schlumberger in a research note issued on Friday, April 5th. Jefferies Financial Group analyst B. Handler now expects that the oil and gas company will earn $0.36 per share for the quarter, down from their prior forecast of $0.37. Jefferies Financial Group has a “Hold” rating and a $45.00 price objective on the stock. Jefferies Financial Group also issued estimates for Schlumberger’s Q4 2019 earnings at $0.38 EPS, FY2019 earnings at $1.35 EPS, FY2020 earnings at $1.85 EPS, FY2021 earnings at $2.85 EPS and FY2022 earnings at $4.05 EPS.
A number of other research firms have also recently commented on SLB. Royal Bank of Canada set a $58.00 price target on Schlumberger and gave the company a “buy” rating in a research note on Friday, January 18th. Raymond James restated a “hold” rating on shares of Schlumberger in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. downgraded shares of Schlumberger from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $73.00 to $48.00 in a report on Tuesday, December 11th. Zacks Investment Research raised shares of Schlumberger from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Credit Suisse Group cut shares of Schlumberger from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $65.00 to $44.00 in a research note on Wednesday, December 19th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $65.00.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 18th. The oil and gas company reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The firm had revenue of $8.18 billion during the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter last year, the firm earned $0.48 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Wednesday, February 13th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, February 12th. This represents a $2.00 dividend on an annualized basis and a yield of 4.39%. Schlumberger’s dividend payout ratio is currently 123.46%.
In related news, EVP Peuch Olivier Le sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of $44.00, for a total value of $660,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.48% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Schlumberger in the 4th quarter valued at $486,635,000. Capital International Investors raised its holdings in shares of Schlumberger by 62.5% during the third quarter. Capital International Investors now owns 33,296,194 shares of the oil and gas company’s stock worth $2,028,404,000 after purchasing an additional 12,810,020 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Schlumberger by 139,145.2% during the fourth quarter. Two Sigma Advisers LP now owns 7,140,492 shares of the oil and gas company’s stock worth $257,629,000 after purchasing an additional 7,135,364 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Schlumberger by 3,478.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,436,967 shares of the oil and gas company’s stock valued at $151,000 after purchasing an additional 5,285,050 shares during the period. Finally, FMR LLC lifted its position in Schlumberger by 53.5% during the fourth quarter. FMR LLC now owns 8,150,451 shares of the oil and gas company’s stock valued at $294,067,000 after purchasing an additional 2,841,792 shares during the period. Institutional investors and hedge funds own 78.93% of the company’s stock.
Schlumberger Company Profile
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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